Gratitude, Wisdom & Blessings: Writing an Ethical Will for Your Loved Ones- Takeaways
By Andrea Young on November 20, 2023
When considering the concept of an ethical will, one might initially associate it with a formal legal document. However, it stands in stark contrast to a traditional will. Unlike a legal will that primarily deals with tangible assets, an ethical will is a heartfelt creation intended for your loved ones. It serves as a platform to share stories, knowledge, values, blessings, and more—a means of imparting your legacy to both your nearest and dearest and future generations. Susan Turnbull graciously returned to discuss the significance of ethical wills with us.
You have so much to give!
While conventional wills often focus on material possessions, money, and assets, an ethical will transcends the tangible. It encapsulates the intangible elements of your life—wisdom, values, perspectives, emotional clarity, and even forgiveness. Expressing feelings, especially in cases of strained relationships, can be challenging. Yet, conveying apologies or forgiveness holds a value that surpasses monetary worth. It also serves to address lingering questions or facilitate closure.
Not legally binding, but profoundly significant
Although not legally binding, an ethical will plays a crucial role in your estate planning. It serves as a guiding document, offering direction to trustees on the distribution of a trust. Furthermore, it articulates your desires and aspirations for charitable giving after your passing.
Preserving your legacy
An ethical will is an expression of your voice and personality, allowing you the freedom to shape it as you see fit. Whether written, spoken, or recorded on video, it represents a selfless gift that your loved ones are bound to cherish—a timeless legacy of yourself.
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