Leaving a Legacy for your Children & Grandchildren

You’ve accumulated substantial assets, and you want to leave a legacy for your children or grandchildren. Before doing so, there are a number of important factors to consider. How much is enough? How old should they be when they receive it? SageSpring Wealth Partners has listed a few helpful tips below:

Creating a Trust

By definition, a trust is a relationship where ownership of assets is transferred to a trustee, which can be an individual or an entity, often a bank. The trustee is obligated to manage the trust assets for the benefit of the beneficiaries, who, in many cases, are children, grandchildren, or other family members of the grantor.

A will is a legal document that spells out how you want your affairs handled and assets distributed after you die. A trust is a fiduciary arrangement whereby a grantor (also called a trustor) gives a trustee the right to hold and manage assets for the benefit of a specific purpose or person.

Trusts and wills often get confused, so it’s important to understand what each is. A will is a legal document that spells out the details of how you would like your assets distributed after you die. Everyone should have an up-to-date will in place. A trust is a fiduciary arrangement where assets are held and managed for a specific purpose (such as a charity) or person(s). Since you no longer own the assets, trust holdings are not typically subject to probate, which is the legal settling of the estate and can be a lengthy process or considered part of the estate for estate tax purposes.

Setting Provisions

Once a trust is made, something important to consider is if you should or should not be setting provisions. Obviously, you can’t control what the beneficiary does with the money you leave them, but you can determine at what age they can gain access to it. In many states, your beneficiary is not eligible to access a trust until they are 18.

Some other options are setting the age you feel comfortable with, or if it’s specifically for grandchildren, giving control of the trust to their parents or guardian until they feel they are of age to responsibly use it. This way you can help ensure that the inheritance is used appropriately and at appropriate times in their adult lives. Trusts are state regulated, so you should check the regulations of the state in which you live.

Talk With Your Financial Advisor

If you haven’t already, schedule an appointment with your financial advisor at SageSpring Wealth Partners to go over your current plan. It is an important exercise to break down your current level of financial confidence. Once you do that, you can determine a measuring stick of where you need to be to live a comfortable life and leave wealth as a part of your legacy.

While planning for what happens with your assets after your death can be a difficult concept to think about, a trusted financial advisor can help you navigate uncertain waters with confidence. SageSpring takes an informative, educational approach to financial advising.

We know that if we arm our clients with enough information about their financial options, they will be able to determine the financial choices that are right for them. If you’re facing life changes in the next few months, make an appointment to meet with a financial advisor at SageSpring today.

Jeffrey Dobyns
Jeffrey T. Dobyns


President, SageSpring | Financial Advisor, RJFS 

Jeffrey T. Dobyns

President, SageSpring | Financial Advisor, RJFS

Jeff Dobyns has enjoyed extraordinary success providing comprehensive financial planning to retirees, entrepreneurs, entertainers, and executives by taking the time to truly know his clients, understand their goals and develop and execute their ongoing, strategic, financial plans.

Jeff earned his finance degree in business administration from Ohio University and has held executive positions with financial planning firms for more than two decades. After serving as Vice President of Investments of Lykins Financial Group, CPA’s, in his hometown of Westerville, Ohio, Jeff moved to Nashville, Tennessee to found SageSpring Wealth Partners in 2002. As its President, Jeff has led SageSpring to remarkable success, holding the distinction of being one of Raymond James’ top independent contractor offices, and a member of its Chairman’s Council*, every year since 2008.

Jeff’s true calling, however, is working directly with clients, helping them plan their financial futures in a manner that aligns with their values and helps provide them with financial confidence. To help meet these goals, Jeff leads the team of Dobyns Wealth Team and also incorporates the expertise of attorneys, accountants and other professionals to provide quality financial, tax and estate planning, and ongoing asset and risk management.

As independent advisory businesses, neither SageSpring Wealth Partners nor Dobyns Wealth Team hold any assets on behalf of clients, with such custodial and brokerage services being provided by Raymond James. As a leader in wealth management, Raymond James has an exemplary reputation and today serves more than $930 billion in client assets through 8,200 financial advisors worldwide (as of 9/30/2020).

In order to meet the highest standards of professionalism and ethics in the industry, Jeff is a CERTIFIED FINANCIAL PLANNERTM practitioner**, a Chartered Life Underwriter and a Chartered Financial Consultant. Jeff is also a participant of the Dave Ramsey SmartVestor program.

Jeff’s work and personal life are both guided by his faith and the Christian principles of honesty, generosity, compassion, and integrity. Accordingly, Jeff devotes considerable time and resources to a number of causes, including serving as a board member of Men of Valor, a prison ministry and mentoring program. He is also on the advisory board of The Signatry of Middle Tennessee, which works with families to increase their charitable giving to their favorite causes. Additionally, Jeff is on the advisory board for Halftime Institute, an organization that coaches marketplace leaders to discern and engage in their life purpose. Lastly, Jeff serves on the board of the Legacy Center of Nashville, a collaboration of independent coaching resources. He is a past board member of Porter’s Call, a Nashville charity that provides free counseling for musicians and their families, and the Martha O’Bryan Center, which empowers those in poverty to transform their lives through work, education, employment, and fellowship.

Jeff and his wife, Amy, are raising their family in Brentwood where they are members of the Brentwood Baptist Church, and their children, Gracyn, Hunter, and twins Tanner and Logan, attend the Christ Presbyterian Academy. For recreation, Jeff enjoys hunting, fishing and just being outdoors.

* Membership is based on prior fiscal year production. Re-qualification is required annually.

**Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

SmartVestor is an advertising and referral service for investing professionals (“SmartVestor Pros”) operated by The Lampo Group, LLC d/b/a Ramsey Solutions (“Ramsey Solutions”). Pursuant to an arrangement between Ramsey Solutions, SageSpring Wealth Partners and your advisor, your advisor pays Ramsey Solutions a flat monthly fee to: (a) be a SmartVestor Pro, (b) advertise services through the SmartVestor website, and (c) receive client referrals in the form of an initial introduction to interested consumers who are located in your advisor’s Pros geographic region. SageSpring Wealth Partners does not endorse and are not affiliated with Ramsey Solutions, except with respect to the arrangement described above, and neither Ramsey Solutions nor its agents are officers or employees of SageSpring Wealth Partners. Further, neither Ramsey Solutions nor its agents are authorized to provide investment advice or act in any way on behalf of SageSpring Wealth Partners, except in connection with providing your contact information to your advisor.

Ramsey Solutions’ relationship and agreement is between SageSpring Wealth Partners only. Raymond James Financial Services, Inc. is not affiliated with the solicitor arrangement between Ramsey Solutions and SageSpring Wealth Partners.

Raymond James is not affiliated with any of the organizations mentioned above.