Podcast: Legacy and Life Insurance

Vest COO John Zetterstrom sits down with Stephanie Alper-Lisi to discuss the importance of planning legacy and generational wealth. John describes a structure Vest has to help make sure clients reach their legacy goals. 

  1. We look at legacy as our core value 

  2. We define legacy as the impact the clients have on the world around them, both when they are alive and after they pass away

  3. 45-55 is typically the age when people start thinking about generational wealth and legacy

  4. We have what we call a Family Fortress Balance Sheet which is essentially a family bank. The design is a combination of a series of life insurance policies and trust planning and specific trust language is used on incentives for heirs

  5. To create the most thorough plan we collaborate with trust & estate lawyers, CPAs and wealth advisors to build a fortress for the clients.

  6. On the frontend, we create a plan and customize it to achieve the goals of the client

  7. On the backend, we manage and monitor the plans to make sure the plans and policies are executing the way they were designed to

  8. Typically the earlier you start planning for generational wealth, the more effective your planning will likely be

  9. The best planners get heirs involved early in the legacy planning process because more informed heirs will be more likely to manage wealth intelligently

Check out this eight-minute podcast here.