Leave your values to the next generation.
What will you leave behind when you die?
You assets will remain.
If you create a last will and testament, through it you may direct how and when your assets are eventually distributed to your loved ones.
But what about your values and beliefs?
How do you make sure those do not die with you?
According to a recent WTOP article titled “What to know about ethical wills,” you can pass them along through an ethical will.
It is a document (or documents, recordings, videos, etc.) through which you record your personal life lessons and share your wisdom with generations to come.
Although an ethical will cannot replace a legal will, it is a valuable complement.
Through an ethical will you can explain your hopes and dreams for you loves ones, as well as your reasons for creating your will as you did.
What are some creative approaches to an ethical will?
Consider providing letters to your newborns or adopted children should you pass away unexpectedly.
You can remind your children of memories made together.
You can pass along family traditions and even provide direction for mementos and albums.
You can explain how you processed impactful events in your life.
You can provide guidance for the use of the wealth you leave.
Regardless how do you create your ethical will, take time and start now.
Consider what you want your loved ones to know.
Record this information by your medium of choice.
Often this is done through handwritten letters.
Wealth is fine.
Wisdom is priceless.
Give your loved ones this great gift only you can give.
Reference: WTOP (November 28, 2018) “What to know about ethical wills”