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Making the Most of Financial Legacy Decisions
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There are plenty of logical reasons to devote some of our current wealth to future generations, such as supporting a better future for your family or society, the potential for estate tax benefits, and simply a common desire to build a legacy that endures beyond our lives. But tradeoffs abound when it comes to making such legacy decisions—not the least of which is how much do I want or need for myself today versus how much am I willing to give others for the future.
Our choices may also be influenced by tendencies of human behavior or even our experience and feelings about legacy decisions of past generations. Do I feel like they were generous towards me, or selfish? Might that drive how I think about my own choices?
On this episode of The Behavioral Divide, presented by Avantis Investors®, host Hal Hershfield speaks with Duke University Professor Kimberly Wade-Benzoni, an expert in intergenerational decision making, and Matt Hall, Co-Founder and CEO of Hill Investment Group, to examine what we can learn from both the academic research and real-world advisor-to-client experience to help us make better financial legacy decisions.
If you enjoy the show, please let us know by subscribing and rating our series. We’d also love to hear from you on this topic. To join in on the discussion, send us a note at [email protected].
Important Disclosures
The views expressed in this presentation are the speaker’s own and not necessarily those of American Century Investments. This presentation is for general information only and is not intended to provide investment, tax or legal advice or recommendations for any particular situation or type of retirement plan. Please consult with a financial, tax or legal advisor on your own particular circumstances.
Hal Hershfield is not affiliated with American Century Investments.
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