Creating An Ethical Will-Passing on Your Values and Beliefs
Besides money and assets, you have something equally—if not more—important to pass on to your loved ones: your values, beliefs, and wisdom. That’s where an ethical will comes in handy. Unlike a traditional will, which focuses on the distribution of assets, an ethical will can pass on the things that hold a special meaning for you, including memories, guiding principles, and wishes for the family’s future.
As we age, we may begin to ask ourselves the following questions more and more often, “What will I be remembered for?” and “How can I make a positive impact on my future generations?” Your car, assets, and money in the bank account aren’t the only things you will be remembered for. It’s also your ideas, thoughts, life lessons, and moral values. In order to make sure all those things are never lost or forgotten, you can put them on paper with the help of an ethical will.
If you’re ready to open up your soul and speak from your heart to pass on your values and beliefs to future generations, the attorneys at The Elder & Disability Law Firm, APC, can assist you in creating an ethical will.
What Is an Ethical Will?
An ethical will is sometimes referred to as a “legacy letter.” Why? Because it’s often written in the form of a letter that allows an individual to share their personal values and beliefs as part of their legacy to their loved ones and future generations. An ethical will isn’t the same as a last will and testament. The former allows you to reflect on the wisdom you’ve accumulated from your life experiences, while the latter allows you to direct how your assets and belongings should be distributed. While ethical wills are not legally binding, they can be used to speak from your heart and open a window into your soul that loved ones will cherish.
Why Create an Ethical Will?
Your life is much more than just your financial assets and physical belongings, though many people seem to forget that when creating an estate plan. An ethical will, when written thoughtfully, can be an invaluable gift for future generations because it provides the following:
Guidance: The words you put in your ethical will can be a moral compass for your loved ones. They can apply your moral principles and values when making important decisions in their lives.
Connection: When we lose someone we love, we can feel that the connection between our soul and their soul is broken. Creating an ethical will helps foster a sense of unity and continuity within the family.
Inspiration: If you find the right words and put them in writing, you could inspire those you care about to pursue happiness in their lives.
When you pass on your house to your loved ones, it’s nothing more than walls and a roof. But your family will remember you for the wisdom you shared with them. That’s why creating an ethical will helps provide your loved ones with a deep, personal connection to you.
What to Include in Your Ethical Will?
If you think you should write an ethical will to pass on your values and beliefs to future generations, you may get excited over this idea and rush to your laptop or, if you’re old-fashioned, take a pen and a piece of paper to start writing. But then, you will probably just sit there and not know where to begin. That’s because you need to understand what your ethical will can include to have some guidance.
Common themes from your past:
Personal stories
Family stories
Lessons learned
Regrets
Common themes from your present:
Values and beliefs
Apologies
Love and gratitude
Common themes from the future:
Guidance and advice
Inspiration and blessings
Dreams and hopes
Requests
Initially, you may think an ethical will is just a piece of paper. In reality, however, it’s your opportunity to leave something meaningful behind. And the best thing about writing an ethical will is that you are free to choose the structure, format, and tone you want. You can write with humor, you can get as creative as you’d like, you can write in a formal way, or you can even make a PowerPoint presentation if that’s your thing. You aren’t restricted by any legalities and formalities.
Want to Make Sure Your Legacy Lives? Reach Out Today
Everyone has some wisdom to share with their loved ones. The sad reality is that people often don’t really listen or give careful consideration to what someone says until that person passes away. With an ethical will, you can make sure your words guide, encourage, and inspire your loved ones for years, decades, and possibly even centuries to come. The attorneys at The Elder & Disability Law Firm, APC, can help you craft an ethical will along with your estate planning documents to make sure your legacy lives forever. Get in touch today to set up a consultation and discuss your situation.