By Olen M. "Mac" Bailey, Jr.

(This article first appeared in the March 2003 issue of The Best Times, a senior newspaper published monthly in Memphis, Tennessee.)

Human beings have always been fascinated with the concept of living forever. The search for the cure for mortality has embodied knightly quests (Search for the Holy Grail), mythical beliefs (Greek & Roman gods), foreign conquests (Ponce de Leon's Floridian Fountain of Youth) and, most recently, scientific research (cloning).

All of us are familiar with the concept of religious immortality, or life after death. Each religion provides its own roadmap for achieving religious immortality. However, this article is not about religion.

Therefore, my "earthly" question to you is: How do you want to be remembered? In asking that question, I define "immortality" as "remembrance."

For example, a few of us will always be remembered - each achieving their own form of earthly immortality. George Washington and Abraham Lincoln won Political Immortality. Jesse Owens and Babe Ruth competed for Athletic Immortality. Rembrandt and Van Gogh painted as Artistic Immortals. Albert Einstein and Thomas Edison achieved Scientific Immortality. Henry Ford and Sam Walton earned Business Immortality. Louisa May Alcott and Harriet Beecher Stowe were published Literary Immortals. Numerous other worthy individuals could be added to the list of "remembered" immortals.

Granted, we all cannot be Presidents, Olympians, artists, inventors or writers. But, with a well-thought estate plan and a modest estate, each of us could achieve what has been referred to as "Financial Immortality."

Certainly, our children and grandchildren are cherished legacies and they can perpetuate the family name (this being sometimes referred to as Generational Immortality) - and most of us desire to leave some form of monetary inheritance to family members. However, in addition to leaving a family legacy, is a gift to charity a good deed for which you also want to be remembered? If so, then how do you want to be remembered?

What about a scholarship fund bearing the family name? What about your printed name on a building, in a room, or even on a plaque in the hallway? What about a fund-raiser or charitable program being synonymous with your family or business? What about future generations knowing that you gave something back to the community in which you lived?

This "remembered good works" or Financial Immortality can be achieved by combining (a) sound estate and financial planning advice with (b) effective charitable giving techniques. Suggested charitable giving techniques may include: outright lifetime gifts, charitable gift annuities, charitable remainder and lead trusts, testamentary bequests in your Will and life insurance policies payable to charity. (You can discuss the specifics of each of these techniques with your legal and financial advisors.)

The point being made is that today's charitable giving strategies afford persons from all walks of life a method to make a difference in their community - and yes, to be remembered for making that difference.

The term "Financial Immortality" is a protected trademark of The Bailey Law Firm, A Professional Corporation.