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By Joe Lumarda, Senior Vice President and Private Wealth Advisor, Capital Group
When does your LEGACY begin?
Some think it's the moment you were born.
Others say it begins when you die.
Or perhaps, it's all that is memorable and remembered in between.
I work in the business of legacy—helping manage and shape how your plans, resources, and relationships are nurtured during your lifetime. And just as importantly, ensuring those plans, relationships, and resources are fulfilled, survived, and cherished into the future.
LEGACY.
Your Legacy is not what you leave for people,
It’s what you leave in people.
Anonymous
After years in this field, I've learned that people desire a legacy, but ultimately, it lives on beyond them—in the plans, resources, and relationships they've nurtured. And the truth is, your Legacy is ultimately...
Out of Your Control.
Of all men's miseries, the bitterest is this:
to know so much and to have control over nothing.
Herodotus
The Meeting is one of those rare moments when a Legacy can be defined.
This is the Meeting where you have the chance to control the who, the what, and the how. The only thing missing? You won't be there.
Traditionally, it was called the "reading of the will." Today, it's a Meeting, usually held at your attorney's office, with your key advisors—estate attorney, accountant, financial advisor, trustee, executor—along with your family members, charitable organizations, and anyone else involved.
How does Legacy start here?
I have been part of two different versions of The Meeting based on the following questions.
Do the participants know each other? Are they a team aligned in support of your Legacy, or are they meeting for the first time?
Is the plan known and generally understood, or is it a surprise? Are there unclear versions or outdated details?
Do we know where all assets are held, titled, and controlled? Or are there differing views on ownership and structure?
Do all the participants understand their roles and responsibilities? Or is it a surprise to those named as executor or trustee (and the work involved)?
And, most importantly:
What is the nature of the outstanding questions left after the meeting? Are they few and clear or numerous and confusing?
How do people walk away from the meeting?
Relieved, informed, taken care of?
Or confused, surprised, and angry?
Courage is what it takes to stand up and speak;
Courage is also what it takes to sit down and listen
Winston Churchill
I have recommended something to clients. Something uncertain. Something scary. Something courageous.
Have The Meeting – NOW.
Bring everyone into the room while you're still here. This takes courage. There may be awkward moments, morbid jokes, and comments like, "Hopefully, a long time from now..." My most courageous clients observe, take notes, and let the meeting unfold—resisting the urge to correct or explain. It's hard. Holes will need to be filled, details clarified, and blurriness sharpened. But eventually, jokes turn into work. Good, productive work.
And what usually happens is remarkable: clarity, camaraderie, and unity of purpose emerge.
Does this sound appealing?
Consider These Questions for a Productive Meeting
Who will lead this meeting? Who are the mindful, organized, and connected leaders of this process? Ideally, this group includes an advisor and a family member to cover different perspectives and ensure continuity.
What is the plan? Where is it documented? Are all the resources clearly identified and accessible—digitally and physically? A well-executed Legacy relies on clarity and quick action.
Why are these decisions being made? A meaningful Legacy is rooted in intention. The best Meetings are filled with stories, memories, and purpose—transforming "why" into an opportunity for deep understanding.
How do you wish to be remembered? What will your Legacy be?
Hold your Meeting now, while you can still envision and shape the future.
Nothing has happened in the past; it happened in the Now.
Nothing will ever happen in the future; it will happen in the Now.
Eckhart Tolle, The Power of Now
Define Your Legacy
Take control of your Legacy now. Gather your loved ones, advisors, and key stakeholders, and have a courageous meeting while you're still here. This simple step will bring clarity, unity, and peace to those you care about most. Start building the Legacy that lives in others—today.
About the Author
Joe Lumarda
Senior Vice President, Private Wealth Advisor
Capital Group
Joe Lumarda is a Senior Vice President and Private Wealth Advisor at Capital Group. He has a notable career, including roles as Executive Vice President and Chief Operating Officer of the California Community Foundation and as an Independent Director for Capital Research and Management Company’s endowment funds.
A former U.S. Navy Officer, Joe has served both on active duty and in the reserves. He is also a dedicated board member of the LA84 Foundation, The California Wellness Foundation, the Dan Murphy Foundation, and the Los Angeles County Natural History Museum.
At Capital Group, Joe works with families and nonprofit organizations to achieve their philanthropic goals. He specializes in creating strategic financial plans that support his clients' missions and create lasting legacies. Guided by faith and service, Joe is committed to helping his clients make a positive impact in their communities and the world.
LinkedIn: https://www.linkedin.com/in/joelumarda/
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