For Eleanor and Jim Watkins, retirement wasn’t just about stepping away from work—it was about stepping into a new role as grandparents, mentors, and legacy builders.
They had worked hard, saved diligently, and supported their family every step of the way. With their children grown and successful, their thoughts began to shift from “Do we have enough?” to “What kind of legacy do we want to leave behind?”
More than anything, they didn’t want to leave confusion behind or create conflict. Instead, they hoped their legacy would reflect the values they’d built their life around—family, generosity, and thoughtful stewardship.
The Fears Eleanor and Jim Faced
Even with significant assets and a well-funded retirement, Eleanor and Jim still faced questions they weren’t sure how to answer:
- How much do we need to keep to support our own retirement and rising healthcare costs?
- Can we begin gifting to family or causes now—or should we wait?
- Which assets should we preserve and which should we pass on?
- How do we structure our plan to minimize estate taxes in Washington State?
- How do we ensure our children are prepared—not surprised—by what we leave behind?
Rather than guess, they wanted clarity—and the confidence to make wise, generous decisions without second-guessing their future.
5 Ways We Helped Secure Their Legacy
This is where thoughtful planning made all the difference. Together, we built a plan that did more than reduce estate taxes—it gave Eleanor and Jim the freedom to enjoy their retirement and pass on their legacy with confidence.
Here’s how:
- Protected Their Retirement First
Before making any gifting decisions, we calculated their future income and healthcare needs so they could be confident in their own long-term financial security.
- Clarified Which Assets to Keep and Which to Transfer
Some assets were better suited to pass on. Others were best kept for income or tax efficiency. We built a clear strategy so they could give wisely—without overextending.
- Built a Tax-Efficient Gifting Plan
We helped them structure gifts to their children and charitable causes in ways that maximized impact and minimized tax exposure—both now and in the future.
- Facilitated a Family Legacy Conversation
Perhaps most important of all, we helped Eleanor and Jim bring their children into the conversation—sharing their values, intentions, and the structure behind their decisions to prevent future misunderstandings.
- Committed to Ongoing Review
We built in regular check-ins to help Eleanor and Jim stay on track. As life, laws, and goals evolve, their plan adjusts with them—ensuring they remain confident in both their retirement and legacy strategies.
The Results: Legacy Confidence and Family Unity
Today, Eleanor and Jim enjoy retirement without worry. Their income is stable, their healthcare is covered, and their children not only understand the plan—but support it. And their legacy reflects not just their finances, but their values.
And because they revisit the plan regularly, they know it will continue to serve them well—whatever the future holds.
What You Can Learn from the Watkins Family’s Approach
- A strong estate legacy planning starts with a strong retirement plan
- Giving confidently starts with knowing what you need to keep
- Legacy estate planning isn’t just legal—it’s personal
- The best legacy estate plans don’t surprise the next generation—they prepare them
- A plan isn’t one-and-done—it’s a tool to keep you on track as life evolves
- You don’t have to figure it all out alone
Ready to Build Your Legacy?
Whether you’re just starting to think about estate planning or you’re ready to fine-tune your legacy strategy, we’re here to help. Let’s build a plan that brings clarity today and peace of mind for generations to come.
Case studies are for illustration only. They’re designed to show the types of services we offer and don’t reflect actual client results. They aren’t intended to predict or guarantee future outcomes.
Josh Whelan
CFP®, CLU®, ChFC®
Partner, Financial Advisor
About the Author
Josh sees his profession as a calling, not just a career. His motive for pursing financial planning was very personal. While working on a degree in marriage and family counseling, Josh’s father was diagnosed with multiple sclerosis. Josh decided then and there to change career paths to help his family prepare for an uncertain financial future. Financial planning became his path to serving others.
The “Alterra” name was coined by joining the Latin roots “alter”, the origin of the word “altruism” with “terra” meaning earth or land. This name reflects the company philosophy of “clients before profits” and providing firmly grounded advice.
