A Holiday Reflection: Building a Legacy That Lasts Beyond Wealth

As the year winds down, life tends to get a little quieter. The holidays have a way of slowing the pace just enough for you to look around, take a breath, and think about the bigger picture. And if you’re like many of the successful individuals and families we work with, the question that often surfaces around this time of year isn’t about markets, taxes, or even next year’s goals. It’s something more personal: What am I genuinely leaving behind?

When most people hear the word “legacy,” their mind jumps straight to financial assets—what goes to whom, and how efficiently it gets there. That’s certainly part of it, and it’s an important part. But the longer you’ve had to build your wealth, the more you start to recognize that money alone isn’t the legacy you want your family to remember or rely on. The true legacy is the combination of what you’ve built, what you believe, and the guidance you leave behind to help the next generation make wise decisions long after you’re gone.

This December is as good a time as any to reflect on all of that, and to make sure the plan you have in place captures the full picture of who you are, not just what you own.

Wealth Is Only One Piece of the Legacy Puzzle

You’ve likely structured your estate thoughtfully, with trusts, insurance, coordinated planning, and a team of advisors helping ensure things run smoothly. But even the most technically sound plan can fall short if the people receiving the wealth aren’t prepared for it. In fact, one of the most cited studies in generational wealth transfer, known as the Williams Group study, found that 70% of wealthy families lose their wealth by the second generation and 90% by the third, not because of investment mistakes or tax issues, but because the heirs lacked communication, shared vision, and financial readiness.

That statistic surprises many people, but when you think about it, it makes sense. If the next generation inherits assets without guidance, values, or context, those assets become more challenging to manage and even more complex to preserve. Your wealth may be carefully structured, but if your heirs don’t understand your intentions or their responsibilities, it becomes far more challenging for them to carry on that legacy.

This is why a meaningful legacy always blends the structural side of planning with the human side. You need both.

Your Legacy Begins With Your Values, Not Your Valuations

If someone asked you to list the values that shaped your success—discipline, generosity, resilience, education, integrity—you could probably name them without hesitation. These values influenced every major decision you’ve made, from how you built your career or business to how you’ve raised your family. Yet most people never formally express these values to their heirs, even though they’re one of the most powerful tools you can pass down.

Creating something as simple as a values document, a family mission statement, or even a legacy letter can give your family a sense of direction when they need it most. It’s not a legal document; it’s a personal one, meant to articulate what matters to you and what you hope will matter to them. It can explain the “why” behind the structures in your estate plan, which often helps reduce confusion or conflict.

You don’t need perfect wording or poetic language—just honesty. That authenticity is what becomes the compass for generations.

Philanthropy as a Living Example of Your Values

For many successful families, philanthropy becomes one of the most powerful ways to express and model their values. Whether you use donor-advised funds, charitable trusts, a family foundation, or simple annual giving, the structure matters far less than the message it sends. Giving shows your heirs what responsibility looks like. It shows them how to use resources to make an impact on something bigger than themselves. And when done intentionally, it can draw a family closer together.

December is often when people finalize their charitable plans for the year, but it’s also a good time to ask deeper questions.

• What do you want your giving to teach?

• Is this something your family could do together?

• Is there a cause that aligns closely with the values you want to pass on?

Philanthropy isn’t just about generosity—it’s about shaping identity.

The Role of Family Conversations in Preserving Wealth and Values

Many high-net-worth families hesitate when it comes to discussing wealth openly. That hesitation is understandable. You may worry about creating entitlement, revealing too much too soon, or sparking unnecessary anxiety. But what often happens is the opposite: when families avoid the conversation, misunderstandings grow, expectations become unclear, and the estate plan ends up functioning in ways you never intended.

You don’t need to disclose every detail, nor should you feel pressured to reveal numbers before you’re ready. But having thoughtful, consistent conversations about values, intentions, and responsibilities can dramatically improve the way your legacy is experienced. These conversations can be simple and gradual, starting with your principles long before you talk about your assets.

Clarity is a gift, and it’s one that only you can give.

How Life Insurance Supports a Values-Driven Legacy

Life insurance plays a quiet but essential role in multigenerational planning. It’s one of the few tools that can provide both emotional and financial clarity. When used thoughtfully, it creates the liquidity your family needs to avoid forced decisions, preserve businesses or real estate, support philanthropy, and maintain fairness among heirs. It can help your family focus on honoring your wishes rather than scrambling to solve financial puzzles during a stressful time.

More importantly, insurance planning has the ability to reinforce your values. It can provide structure, stability, and clarity—traits that align directly with the kind of legacy most people want their families to experience.

Legacy Isn’t Just About What You Leave—It’s About What You Teach

The most meaningful legacy doesn’t begin at the end of your life; it starts now. It’s the way you communicate, the guidance you offer, the generosity you model, and the clarity you provide. That combination of values and structure is what truly carries through generations.

Bringing Your Legacy Into Focus

If you’ve been thinking about your legacy more this season, or if you want to make sure your intentions are clearly reflected in your current plan, we’re here to support that process. At DPH Financial Services, our role is to work alongside your attorneys, accountants, business managers, and advisors to help ensure your wealth protection and transfer strategies align with the deeper legacy you want to build.

If you’d like to revisit your plan or explore ideas, we’d be glad to have that conversation with you whenever the time feels right.