LaGrange: 1023 W 55th St #200, LaGrange, IL 60525 | Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
LaGrange: 1023 W 55th St #200, LaGrange, IL 60525
Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
LaGrange: 1023 W 55th St #200, LaGrange, IL 60525
Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
Ethical Wills: The Heart of Your Estate Plan (Part 3)
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I previously wrote about what an ethical will is and what you may want to include in your own ethical will. Here is how to get started writing one:
Reflect on Your Life. While reflecting on your life, ask yourself questions like:
- Which experiences shaped you over the course of your life?
- What are the life lessons that you think are worth sharing with your loved ones?
- What hopes do you have for the lives of those closest to you?
- What do you most want to be remembered for?
Be Honest and Authentic. As this isn’t a formal legal document; you can write it in your own voice like a heartfelt conversation with those you love most. It’s ok to be honest and to share failures and regrets with vulnerability. You don’t have to be concerned with formality, grammar, or perfect writing.
Nothing is Forever. Just as wills and other estate planning documents can and should be updated with life changes, the same is true for your ethical will. Your relationships, finances, health, values, and perspective may change with time, and your ethical will can be revised with these changes.
Sharing is Caring. How and when your ethical will is shared is completely up to you. You may wish for your ethical will to be read before the contents of your legal will are shared, setting the stage for the distribution of your assets. You might instead choose to share your ethical will with your loved ones while you are still alive. Either way, there are no rules for sharing your ethical will.
Combining an Ethical Will with Traditional Estate Planning. While an ethical will cannot take the place of a legal will or trust, it can complement your estate plan by adding an emotional, inspiring, loving, and even spiritual dimension. Sharing your ethical will with your estate planning attorney can also help them to understand more of your values, priorities, and goals so they can better help you to accomplish all you want to with your estate plan.
For help with your estate plan, contact us at Wilson and Wilson Estate Planning and Elder Law, LLC at 708-482-7090.
https://www.jdsupra.com/legalnews/ethical-wills-the-heart-of-your-estate-4480905/
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