Andrew Dodson is CEO of The Wealth for Life Partnership and Co-Founder of The Hereditas Legacy Planning ProcessTM, the first dedicated Legacy Planning process of its kind in the UK. It provides a clear and effective strategy for anyone wishing to leave not only a financial inheritance but a legacy that is consistent with their values and wishes.
Here, he explains the concept of ‘Social Legacy’ and the positive, measurable and impactful change you are able and willing to help create for the individuals, communities and charitable causes and organisations close to your heart.
“What does ‘Social Legacy’ mean to you and are you currently as engaged with your own as you would like to be? You may not have heard this term before, but a Social Legacy is a fundamental component of the Legacy you are creating every day and will one day leave behind.
A Social Legacy is the lasting positive impact, values, practices, and relationships you leave behind for future generations. It can be based on your attitudes and approaches to the causes you support, capturing your desire to help others and make a positive difference. A Social Legacy not only consists of the donations you have made to charity, but also the other ways you have supported causes in which you believe, like sharing your story, fundraising, or volunteering. It can reflect the things you have done, or your plans for the future – like leaving a gift in your will.
While we often feel reluctant to consider or identify ourselves as particularly ‘wealthy’, wealth is more than a monetary amount. True wealth consists of both our emotional as well as our financial wealth, encompassing the lessons we have learnt, the successes we have enjoyed and the experiences we have shared throughout our life. It is for this same reason that when we come to identify our ‘assets’, we are often surprised at how ‘wealthy’ we realise we are.
Your passions, values, and beliefs will fundamentally drive your Social Legacy. For many, the personal connection driving your Social Legacy is a family member or a friend who has been affected by a particular health related issue, or the support you have received yourself. Your Social Legacy should absolutely reflect what is important to you and can be linked to a charity close to your heart.
Here at Hereditas, we are proud to be supporting the British Liver Trust, to promote and develop our mutual understanding of Social Legacy and the immeasurable benefit that Legacy Planning brings to our charitable giving journey. Together, we believe that Legacy Planning is about learning from the past, living in the present, and building for the future.
Everyone is entitled to leave a meaningful and lasting legacy, regardless of the amount of their financial wealth, and our vision is a world where Legacy Planning is not a luxury but the norm. Hereditas believe that ultimately, our strength lies in what we give and not what we take and that a true legacy isn’t what we leave behind, but what we set in motion.
We will all leave behind a legacy of some kind, whether we intend to or not and by engaging actively and thoughtfully in the creation and development of our Social Legacy, we can make our legacy both meaningful and lasting for generations to come.”
Hereditas have a new Legacy Planning Questionnaire, which is located on their website. It only takes 5-10 minutes to complete following which you will receive a detailed and personalised report based on your response and at no cost, highlighting exactly where you are in your Legacy Planning journey.
If you would like to find out more about ways you can support the British Liver Trust, and create your own legacy, you can find information here.
You can find out more about leaving a gift in your will here.
To find out more about Hereditas and to complete the questionnaire please visit www.hereditas.co.uk
This blog has been provided by Andrew Dodson and reflects his personal views.
The British Liver Trust recommends you seek professional advice when making or updating your will.
