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I believe that all the years that I have spent as Santa Claus have been more fun than all the years I spent waiting for Santa Claus.  Yes, besides the sleep deprivation that was faced on Christmas Day, being Santa Claus has been more rewarding.  (In case your wondering, I still believe)

The joy that you may see on my face is about the joy that I see on others faces.

What makes being Santa Claus more enjoyable?

It is the ability to act rather than wait. Acting makes the suspense bearable. It gives you a starring role. Time passes more quickly. And best of all, it leaves you in charge of the joy you give.

Besides being Santa Claus what do you want to be remembered for in your life?

It’s a question that most people face at least once in their lives. Perhaps it’s the adventurous sense of spirit that takes you to all corners of the earth. Or maybe it’s the incredible kindness you show to your loved ones. But what about the impact you want to have with your more tangible assets?

This is where legacy and estate planning can come into play.

The difference between legacy planning and estate planning? A legacy is about impacting future generations and can be focused on the strategy of what impact you will have on those generations.

Legacy planning is often used as an umbrella term to encompass not only your estate plan but also charitable giving.

The major work of estate planning is figuring what will happen to your property when you pass away.  Yet, estate planning is so much more.  It is about determining more than where your property should go, your estate plan will also include decisions about children and their property, taxes, avoiding probate, health care during life, how to manage your estate if you can’t, and decisions to be made on your behalf during and after life.

Regardless of how they’re defined, both legacy and estate planning can be complex and overwhelming – both financially and emotionally. And both require careful planning and strategic foresight to successfully provide for your current and future financial needs.

In a way, it is just like being Santa Claus.  It is complex and requires planning to make those you love light up with joy at Christmas.

Is your estate plan and documents up to date?

Have a great weekend.  I am walking daughter #2 down the aisle and you be assured there is a smile on my face.

Michael A. Tannery CPA, CDFA® AIF®

Tannery & Company

Tax – Accounting – Wealth Management

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