You are more than your money.
You are more than your money. Why should your estate plan only focus on the money?
I believe that every person has a natural and powerful desire to leave a lasting legacy. For many parents, this is the powerful reason that drives them to leave something for their kids. Whenever I ask parents and grandparents about leaving money, ultimately, the conversation isn't just about the money.
Parents and grandparents easily talk about what the money means to them and their loved ones. They explain what they want the recipients to do with the money. Sometimes, they say why they do not want someone to get any money. Estate planning necessarily focuses on the money, but it isn't all about the money.
Ultimately, what parents and grandparents focus on is the values they are teaching and leaving for their loved ones. They have greater wishes and aspirations for their family and friend. This is why I include the opportunity for clients to leave an ethical will.
An ethical will is not a legal will leaving money and things. Rather, it is a "will" that leave values. It has been explained that a legal will leaves valuables, but an ethical will leaves values. Consequently, every one can leave an ethical will because it doesn't require anything other than personal family wealth of the intangible kind.
Here is a story that was done on PBS about ethical wills. There are resources linked at the bottom of the article.
