Legacy planning not only includes the individual creating their plan but the people they entrust with fulfilling their plan. These people are described as Executor, Trustee, Guardian, Power of Attorney and Beneficiary in legal terms, but when you have selected them they are often members of your family or friends.
The selection of the appropriate individuals to create a community empowered to carry out their roles and responsibilities requires careful thought, debate and negotiation. Educating each member on their role and responsibilities before they are needed allows them to perform the due diligence to undertake their position.
During this planning phase, I advise each role on their responsibilities to avoid costly mistakes and minimize ambiguity and lost time when they will assume their responsibilities in the future. I also provide due diligence services to focus on gathering and organizing the information needed for that time. Your assets are greater than the sum of your Balance Sheet and will undoubtedly include protecting family archives and personal treasures.
Creating a road-map to a successful transition I can also assist you with a communication plan for your empowered team and beneficiaries. My collaborative approach to family succession will save you time and reduce the probability of your legacy not achieving your goals.
Leslie’s first career began in 1984 as a Chartered Accountant working as a corporate controller for public companies in Canada. In 1997 Leslie took a leave from her career to focus on her family. When her family faced the role of executor she realized there were many parallels to business succession planning and that often families are not prepared. Since 2011, advising families on the role and responsibilities of an executor has become her passion. Family succession planning has become her mission.
For more information contact Leslie Knighton EPC, CEA, B Math at 647-205-2738