C O V E R S T OR Y


5 LESSONS FOR CREATING A


FAMILY LEGACY


How to ensure your wealth lasts for generations into the future


8 R EG ION S I N S IG H T S  SUMMER 2 015


W


HAT DOES IT TAKE to build a family legacy? Many affl uent individuals and couples take basic steps to protect their family’s


fi nancial well-being. Perhaps they draft a will, fi ll out benefi ciary forms on their retirement accounts and insurance policies, and designate an executor who will oversee how their assets are distributed once they pass away. But those steps — while certainly important — are only the beginning. Building a true legacy that ensures your family’s wealth serves your needs in the near term, while preserving it for future generations requires detailed planning and ongoing oversight and management, says Phillip Furlong, Vice President and Wealth Advisor for Regions Private Wealth Management.


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