5 ways to leave a financial legacy to your heirs

Deciding on what your legacy will be can often seem quite daunting as there are a good few factors to consider. That’s why we’re following on with our insights into legacy planning by breaking down some of the financial assets you can leave as part of your estate. Read on to find out more…


Any investments you may have made over the course of your life can be made part of your legacy. You may have been developing your wealth through these investments and transferring dividend payments to beneficiaries can be a good way of ensuring periodical income. 

Tangible Assets

Not all financial assets have to be monetary. You may want to pass on tangible assets, such as property, jewellery or vehicles. You can stipulate the conditions for the transference of such assets via a trust if need be. You may even want to get your assets valued if you’re trying to divide up your estate equally amongst your beneficiaries; that way you can make sure that everything is evenly split. 

Business succession

If you own a business, you arrange the succession of your position by appointing who will replace you. Making sure you’ve got a succession plan in place will save any unnecessary squabbling or competition if something were to happen. Your business will no doubt be a big part of your financial legacy, so taking the time to make sure everything is in order is key.

Life insurance

Taking out a policy can also be a viable way of leaving a financial legacy. It can form a part of your In Case of Emergency pack, if the worst were to happen. An insurance policy isn’t necessary for everyone, however, if you have a number of dependants that rely on you for their financial wellbeing, life insurance can give you peace of mind knowing they’ll be looked after if something unfortunate were to happen. 


For this point, we’re heading back to the 19th century. The Rockefellers and the Vanderbilts were two of the richest families in the world. When it came to passing on their fortune, the Rockefellers set up a huge trust in order to divvy out the fortune conditionally whereas the Vanderbilts did not. Fast forward to the present day and the Rockefeller fortune has lasted six generations so far; the Vanderbilt’s fortune didn’t make it past one. 

Trusts are an excellent way to make sure your financial legacy is delivered in line with your outlook towards money. You can set conditions for how your money is dispensed to your beneficiaries. Trusts help to support those in your will that may struggle to budget accordingly. You just need to make sure you pick a good trustee. 


As you can see, there’s a range of ways for leaving your financial legacy to your heirs. For more information on how to develop a legacy plan that works for you, feel free to get in contact.