Is an Ethical Will Right for You?
Documents known as last will and testaments have been around for centuries. The purpose of a last will and testament is to set out what you want to have happen to your possessions after your death, usually with the objective of keeping property in the family. Wills have evolved over the years; the Romans made them legal documents, and English common law imposed strict rules regarding how they can be created and interpreted. Today, a legal will is typically written to be a clear, concise disposition, precise in structure and language–dry, bland, and stone cold.
This is unsatisfactory for many people who believe that leaving a legacy should mean more than just doling out goods to John Jr. and Aunt Sally. Perhaps that is the reason for the recent reemergence of another ancient document–the ethical will.
Leaving a legacy of values
Ethical wills may have a longer history than traditional wills, with roots in biblical times. Even before pen was put to paper, oral legacies were handed down to children and other descendents. But, unlike a traditional will that is concerned only with possessions, an ethical will imparts family history, wisdom, and love. The gifts are spiritual and philosophical, not material; the givers bequeath values, or a sense of themselves.
A growing trend has people writing ethical wills in conjunction with their traditional wills, using this device not only as a personal testament, but for a variety of purposes, such as:
Explaining the underlying reasons for certain bequests
Leaving instructions regarding funeral or burial arrangements
Putting other personal affairs in order
The emotional gratification of this practice is invaluable to many people, especially the elderly and the very sick. But it’s not right for everyone.
Taking a journey inward
An ethical will is not an easy thing to write. It requires you to reflect honestly on your life, do some soul searching, determine the things that count most in this world, and decide what you want to pass on to your loved ones. In doing so, you’ll not only remember the positive aspects of your experiences, but you may recall personal failures, sorrows, and regrets as well. Not everyone has the courage or strength for this journey, but it’s an important first step in creating an ethical will.
Some practical guidance
Anyone can write an ethical will. You don’t need a lawyer; it’s not a legal document. It needn’t be formal or skillfully written, as long as it serves your purpose. And it doesn’t even need to be written; you can use any media, such as video or audiotape.
If you need some guidance, there are many books, websites, and kits available that provide information, step-by-step instructions, and examples. Or, you may want to consider consulting a professional counselor or your estate planning attorney. They can provide personal assistance, helping you get to the heart of the matters you wish to share.
Here are some other thoughts on how to begin creating your own ethical will:
Start with an outline of the topics you want to cover
If you don’t know what to say, think about what you’d like to have known from your own ancestors
Keep your sentiments positive; don’t preach, and don’t be critical or condemning
Take your time; you may write several drafts before you get your message right
Make sure someone knows about your ethical will and where to find it
Remember that your ethical will is not legally binding; put anything you want to be legally enforceable in your traditional will
A final word
You don’t need to wait until the end of your life to create your ethical will; now is the right time if you know what you want to say. And, even though an ethical will is usually read after death, you can give it to your children and other heirs anytime.
Everyone wants to be remembered. With an ethical will, you can help guide the generations that follow, and your ideas and values will live on and be treasured for years to come.