Join us in this insightful episode of the Legacy Wealth Code as our esteemed hosts, Michael Notbohm & Andrew Hoek, demystify the concept of a Legacy Letter. Discover the importance of this powerful tool in communicating your legacy and learn practical steps to create one. In this engaging discussion, we dive deep into the unique nature of legacies, discussing how they can vary vastly from person to person. Nevertheless, being intentional and purposeful about your investments is crucial in shaping your legacy, a point our guests passionately emphasize. Whether you're just starting your investment journey or are well along the path, this episode is a must-listen if you want your wealth to align with your desired legacy. Tune in for a deep-dive into purposeful investing and intentional legacy planning.
THE LEGACY WEALTH CODE PODCAST SHOW NOTES
Episode #11: What is Your Legacy? Writing a Legacy Letter to Define It
Host: Michael Notbohm & Andrew Hoek
Welcome to this episode of the Legacy Wealth Code Podcast, a platform aimed at helping you build long-term wealth and a lasting legacy through real estate investing, tax strategies, and motivational stories from successful people. Meet our hosts, Michael Notbohm & Andrew Hoek.
The focus of today's conversation is “planning for your legacy”. With many high achievers working on their goals, thought is rarely given to the legacy they leave behind. Notably, the process of legacy planning has a huge impact on the actions we take today. Not having any form of planning often forces the family left behind to deal with cumbersome probate processes and can easily result in strife, uncertainty, or loss of property.
In this episode, Michael and Andrew explain the concept of Legacy Planning, highlighting a tool called the Legacy Letter through which they convey their thoughts on what they want to be remembered for.
● [00:43] Today's topic; what is your legacy?
● [03;14] Defining Legacy; a plan against probate.
● [08:32] An example of what probate entails.
● [09:48] The Legacy Letter
● [16:28] From Michael's legacy letter.
● [18:36] From Andrew's legacy letter.
- "What do you want your name to live on as?" - [Michael Notbohm]
- "Being purposeful about what your legacy is, will drastically change what you're doing right now" - [Michael Notbohm]
- "What are you doing to make sure you're on track for what you actually care about?" - [Michael Notbohm]