What is the meaning of our lives? For some of us, it may include living a life filled with adventure, family memories, spirituality, increased clarity, and, in the end, being remembered through the legacy we leave to the next generation. In this month's newsletter, we will focus on the idea of legacy planning, a subject much more meaningful than pure estate planning. It was in the song "I Was Here," by Beyonce that she declares, "I want to leave my footprints on the sands of time. Know there was something that meant something that I left behind."
Carolanne's Corner
What is a legacy? At its simplest, a legacy can refer to money or property passed down to heirs. But more profoundly, it’s the lasting impact of our lives—the values we uphold, the memories we leave behind, and the influence that endures long after we’re gone.
When my father passed away, he had clear wishes for the legacy he hoped to leave through his estate. Sadly, due to a second marriage and a lack of open communication within the family, his vision was never fully realized.
That experience inspired the creation of the Prosperity Wealth Planning Legacy Planning Program. It was born out of a desire to help others avoid the pain of unmet expectations and unspoken intentions. Our goal is to encourage honest, sometimes difficult, but necessary conversations—so that your legacy, whatever it may be, is preserved and honored exactly as you intend.
We spend our lives working hard, caring for our families, and making thoughtful decisions, both big and small, about how to protect what matters most. Legacy planning is, for many people, just an extension of that careful thinking. It's about making your wishes known, so that the people and causes you care about are supported, even when you're no longer here to guide them.
At its core, legacy planning is about passing along clarity and peace of mind, providing a roadmap when loved ones may need it most, and sparing them from having to make difficult decisions in moments of stress or grief. With a clear plan in place, your family doesn't have to guess what you would have wanted. They'll know.
A well-designed plan can also have the benefit of reducing any tax burdens on your heirs, helping to maximize the amount of wealth that stays in your family. Strategies like Roth IRA conversions can create a tax-free inheritance, while properly titling assets may allow your beneficiaries to take advantage of a step-up in cost basis, excluding certain capital gains from taxation. If your estate is likely to exceed the lifetime estate tax exclusion, working closely with an estate planning attorney to structure your estate in a way that minimizes potential estate taxes will help preserve more of your legacy.
Legacy planning is not just about what happens after you're gone. A well-designed plan also provides for the appointment of someone you trust to make important medical or financial decisions on your behalf if you ever become unable to do so. It's a way of protecting yourself now and lifting the burden of uncertainty from your family in a time of crisis and emotional stress.
An additional benefit to a comprehensive legacy plan is the ability to prepare the next generation to inherit not only wealth, but the ability to responsibly apply that wealth to their own lives. Planning can include education, structure, and guidance, so your loved ones have the tools to manage what you leave behind. That kind of preparation fosters independence and a deeper appreciation for the legacy they will receive.
Legacy planning is an ongoing conversation. More than that, it's a chance to talk with your family about what really matters. Those conversations can strengthen relationships, prevent misunderstandings, and ensure that your wishes don't come as a surprise, but as a reflection of your deepest held values.
Jordan's Journal
U.S. stocks hit new highs last week, helped by progress in trade talks with China and growing optimism around potential tax cuts and regulatory changes. Inflation is still running a bit hot. Core prices rose more than expected in May, which signals that new tariffs are starting to push up the cost of goods.
As the 90-day tariff pause nears its end, policymakers appear to be taking a more measured approach. The odds of returning to the extreme tariff proposals from April are low, partly because supply chains can’t be reworked overnight without serious consequences. Still, trade policy remains a key wild card.
Also on the policy front, the administration is pushing forward with pro-growth efforts, including expanding the 2017 tax cuts and easing banking regulations. These changes could help boost investor confidence, support lending, and create opportunities in areas like artificial intelligence.
Bottom line: Markets are being driven by shifting trade and tax policy, with some reforms helping lift investor sentiment. The view on U.S. stocks remains optimistic, but investors are keeping a close eye on inflation, interest rates, and geopolitical risks like tensions in the Middle East.
News and Upcoming Events
Welcome Easton Price to the Prosperity Wealth Planning Team!
Easton Price is a Certified Financial Planner® and Certified Divorce Financial Analyst® who specializes in helping clients navigate life’s major transitions with clarity and care. Easton brings many years of professional experience to this assignment, and prior to joining the Prosperity team, spent the past four years working in Huntington Beach for a national financial planning firm. His time there was principally devoted to guiding individuals and families through all areas of their financial lives—including investment, tax, retirement, estate, and cash flow planning.
Easton feels especially driven to help those in need of assistance with divorce planning, a passion that is rooted in his own personal experience stemming from a desire to be the kind of advisor he wishes his own family had during difficult times. He also makes the time to be involved in a leadership role with the Financial Planning Association of Orange County, where he helps shape the future of the profession on the Board of Directors as NexGen Chair, and as President-Elect of the organization.
Outside the office, you’ll find Easton coaching high school basketball, enjoying the outdoors with his wife Amanda, or catching the latest movie with his Cinemark movie pass!
New Service! The Prosperity Legacy Planning Program
Our Legacy Planning Program is off and running! We have recently introduced the second of the program's three pillars.
Investment Guidance – launched in May, it is available for the adult children (20s and 30s) of our clients who hold $1,000,000 or more in assets under our management. This program provides the next generation with financial planning and asset allocation strategies to help them plan for a successful future. We received great feedback from our clients who started to take advantage of these services.
“Thank you Carolanne and Jordan for working with my daughter on her financial plan. She is excited to put into practice what she has already learned from Jordan and Ava!”
- Debbie A., client.
Family Legacy Planning Sessions – offered beginning in August, these family-focused planning sessions will be made available to pre-approved clients and their heirs, designed to foster open communication and collaboration and help prepare the family for future wealth transfer.
Financial Education – the last pillar of our program is getting ready to launch soon. As an added benefit to the adult children of clients with $1,000,000 or more in assets under our management, we will be offering online financial education courses to help educate the next generation on financial planning fundamentals. This is an online program featuring learning modules that cover relevant topics including Building Credit, Budgeting, and the Basics of Investing. Individuals joining the Investment Guidance program will be asked to complete the Fundamentals of Finance courses. Look for an announcement soon!
Charity Golf Tournament - September 26, 2025
Prosperity Wealth Planning is proud to be the title sponsor, honoring a nonprofit that is a part of one of our own clients' legacies. aMAYZing Kids is a nonprofit pediatric therapy clinic with a mission to provide compassionate and comprehensive care to children of all abilities, focusing on occupational therapy, speech therapy, and physical therapy. They believe that every child deserves the chance to reach their full potential, regardless of the challenges they may face.
This special golf tournament will be held at Tijeras Creek Golf Course in Rancho Santa Margarita, California. Click here to register for the tournament or here to become a sponsor or join in the ball drop.
Coming Soon! Our annual Client Appreciation Events
Quartino at The Colony – October 8, 2025
We invite our Texas-based clients to join us for a fun evening of catching up with old friends! Be on the lookout for your invitation coming soon!
Spaghettini in Seal Beach – November 6, 2025
Don't worry, California-based clients; we haven't forgotten about you! Please plan on joining us for an evening of good fun, food, and friends. Keep an eye out for your invite.
Supercharge Your Finances Podcast
Our June episode of Supercharge Your Finances featured a lively and informative discussion about Tax Planning - featuring Carolanne, Ava, and Jordan. Listen to our most recent episode or go to our website to view all of our past episodes.
Articles of Interest
 | |
 | |
 | |
 |
If the topic of Legacy Planning is new to you, or if you have occasionally contemplated what might happen to your heirs once you are gone, but haven't taken it any further than that, it is time to work on that Legacy Plan. It is so important to explain clearly to your heirs exactly what you hope to have happen once you are gone. Don’t leave anything to chance. If you have any questions regarding Legacy Planning, or any other financial planning topic, please let us know.
Sincerely,
Carolanne and the Prosperity Wealth Planning Team