What is Your Legacy?

You probably know the importance of executing a Last Will and Testament in order to financially provide for your loved ones. A Will not only ensures the implementation of your wishes regarding your property, but it also streamlines the administration process for your beneficiaries. Furthermore, where there are minor beneficiaries, a Will is an effective means to appoint a legal guardian in the event of death.

Handling your legal and financial affairs should be a priority. After you have addressed these issues, you may want to consider your own personal legacy. If you were gone, would your family know how much you cared for them? Would they know about what was important in your life? Would they feel a continued connection with you?

It is possible to share these items with your family through the use of a traditional planning tool: the ethical will. Ethical wills originated in ancient times and were primarily a Jewish tradition, by which families transmitted moral teachings to future generations. The ancient ethical wills were formally written and could be quite lengthy. However, they were tomes that families were able to treasure for generations.

An ethical will can be in any format. It may be written or spoken. It may be on an audio tape or a video tape. It can be in the form of poetry, a painting, or a poem. The structure and format of an ethical will should fit the personality of the creator.

You may wish to update an ethical will at many stages throughout your life. As we age, our experiences accumulate and our perspectives change. As with journal writing, writing and reviewing ethical wills can lend important insight into our own personal development.

An ethical will can be one of the most important gifts that you leave for your family. Your words and affection will be more valuable than any assets that you leave to your loved ones. Please consider taking advantage of the incredible opportunity that you now have to share these sentiments.