Hey, Ashley here.
What will your kids remember when you’re gone?
Will they inherit confusion, court battles, and paperwork —or clarity, security, and peace?
What legacy will you leave behind?
As parents, we spend so much time planning for each day—school lunches, after-school schedules, and the next family trip. But what about the bigger picture? What about the legacy we’re building, even in the middle of our messy, busy lives?
This isn’t about being wealthy enough to leave an inheritance. It’s about making sure the people you love most aren’t left with questions.
This article will guide you through three key aspects of building that legacy: the accounts you set up, the plans you put in writing, and the values that only you can pass down.
The Practical: Accounts to Set Up for Your Children
When my daughters got their first allowance, we set up a little savings account. Every time they log in and see those numbers grow—even by a few dollars—their eyes light up. It isn’t about the amount. It’s about the lesson: money is a tool, and you can choose how to use it.
That’s where legacy starts—not in some big, complicated plan, but in small, practical accounts that teach and protect. These aren’t just financial moves. They’re proof to your kids that you cared enough to prepare for them.
Here are the building blocks.
Start Now:
- 529 College Savings Plan – Education costs are overwhelming, but even modest contributions grow. And thanks to new rules, unused funds can roll into a Roth IRA later.
- High-Yield Savings Accounts – Sometimes simple is best. A visible account where kids can watch their money grow teaches them discipline in a way no lecture ever could.
When They Have Income:
- Custodial Roth IRA – If your child has earned income, a Roth in their name is one of the most powerful ways to start retirement early. Years of compounding before graduation is a gift most kids never get.
Optional/Advanced
- UTMA/UGMA Custodial Accounts – Flexible accounts for savings and investing. Keep in mind your child gains full control at 18 or 21, which can be empowering or risky. No tax perks like a 529 or Roth, but in certain cases, they’re a smart option.
Your kids will get a head start with these accounts. But they also need protection for the “what ifs.” That’s where your estate plan comes in—the structure that carries your wishes forward when you can’t.
The Structural: Your Estate Plan
I’ll be honest: this part feels heavier. No one wants to imagine the “what ifs.” When my husband and I first sat down to name guardians, it felt uncomfortable. The thought of someone else raising our daughters was jarring. But getting it on paper brought a peace I didn’t expect.
And I’ve seen both sides of this. Families divided when documents were missing—siblings fighting in court, assets tied up for months, relationships permanently strained. And I’ve seen families grieve with unity, because one parent took the time to prepare. The difference isn’t small—it’s everything.
Here are the essentials:
- Wills & Guardianship – Decide who raises your children. Without this, a judge decides for you.
- Trusts – Protect assets and guide when and how your children receive them. Sometimes love looks like pacing their inheritance, not handing it all over at once.
- Beneficiary Designations – Keep retirement accounts, life insurance, and bank funds aligned with your wishes. Outdated paperwork is one of the quickest ways for assets to fall into the wrong hands.
- Powers of Attorney & Healthcare Proxies – Let someone you trust step in during a crisis. Without them, your family faces confusion on top of grief.
Documents can protect your family’s future. But clarity on paper isn’t the only thing you’ll leave behind. The values, stories, and lessons your kids inherit will shape them just as much as any legal plan.
The Emotional: What You’re Really Leaving Behind
Here’s the truth: money runs out. Yes, the logistics matter. The wills, trusts, POAs, and healthcare proxies are critical. But what truly lasts are the stories, the clarity, and the values you’ve shared. The human side.
I once worked with a family whose mom had written a short letter before she passed—nothing fancy, just a page about her hopes for her kids. That piece of paper meant more to them than the inheritance. It wasn’t about dollars. It was about direction, love, and being known.
We encourage our clients to pair the legal with the personal. When you finish signing those documents, don’t stop there. Add the pieces only you can provide :
- Write a legacy letter to your children. It doesn’t have to be long—just your words, your voice, your love captured on paper.
- Share your outlook on the world—what you believe, what you’ve learned, and the values you hope they’ll carry forward.
- Explain your financial strategies. Why you saved, why you invested, why you made the decisions you did. Give them the context behind the numbers.
- Have intentional conversations. These simple moments often leave the deepest imprint.
Talking to kids about money isn’t easy, but it’s one of the most important lessons you can give them. We covered some practical ways to start the conversation in this article.
Someday, your children will look back. Will they remember paperwork battles, or the security you worked so hard to give them? Legacy isn’t just about avoiding probate or distributing assets. Legacy is about making sure your children know your wishes, understand your story, and feel the security of your love—even when you’re not there to say it out loud.
Legacy is Intentional
Legacy doesn’t happen by accident. It’s built in the everyday accounts, in the documents you don’t want to think about, and in the conversations you choose to have while you still can.
As parents, we dream of giving our kids the best today. But the real gift is knowing they’ll be okay tomorrow, because we took the time to plan, prepare, and speak love into their future.
So, What’s Next?
If you haven’t reviewed your accounts and estate plan recently, now’s the time. Let’s make sure your kids inherit clarity, not questions.
Schedule a planning session today.
At Tannery Company, we help families put the right accounts and documents in place—so your children are protected, your wishes are honored, and your values carry forward.
