An Ethical Will: Beyond the Basics
Most attorneys can write a list a mile long about why it’s important to get your estate planning completed. The reasons range from the legal to the practical. However, when we ask our clients why they think it’s important to do their estate planning, their answer is almost always the same and more sentimental than you might think. What is it? I want to make sure my family will be okay after I pass away.
In order to make sure we understand your wishes for your family, lawyers have to ask you a lot of questions about things you probably would rather not think about. How do you want to divide your money and property after you die? Who do you want to be in charge of your estate? Are there specific items you’d like to go to specific people? When asked these practical questions, it’s natural for broader questions to arise: What do I want my legacy to be? What knowledge do I want to pass down to the next generation? How will I be remembered?
Once the ink dries on your signature and you leave the lawyer’s office with your new will in hand, you may be left feeling that something is still missing. Sure, your documents direct your assets after you pass away, but, what about those bigger questions?
Legally, your will requires certain language to make it valid. While this language will ensure your assets are distributed how you choose, those larger questions about your legacy and what you want loved ones to remember about you aren’t addressed. However, an ethical will can help you bridge that gap. Unlike your legal will, your ethical will has no legal effect—meaning, nothing you put in an ethical will can be enforced through the legal system. The purpose of an ethical will is to provide a means of communicating your non-legal wishes to your friends and loved ones.
What’s In An Ethical Will?
Unlike your legal will, there are no rules about what can or cannot be included in your ethical will. However, here are some common examples of things people like to write about in an ethical will:
- Experiences that shaped you
- What you believe in
- Your family stories and memories
- Advice for future generations
- Blessings or apologies
- Photographs, recipes, and other items with sentimental value
- Explanations about how you chose to divide assets
Sharing values, addressing past issues, and seeking forgiveness are common results of creating and sharing your ethical will. Past conflicts and misunderstandings often spiral out of control due to a lack of communication. In our experience, one of the biggest reasons estate plans fail is because of lack of communication. When the people in your family do not understand your motivations for why you gave someone a particular item, or why you chose one person over another to be in charge of your estate, the result can be contentious. In the worst cases, this can result in years of litigation and complete estrangement.
A Direct Approach With An Ethical Will
Going through the process of creating an ethical will in tandem with your legal estate planning is a healing exercise for many and can allow you to identify areas of potential discontent among your family members and address it directly. It forces you to think beyond the four walls of the attorney’s office and ask yourself: What do I really want to pass along to the next generation? How do I want my family and friends to remember me? Estate planning is a great opportunity to reflect on your relationships and mend fences, and an ethical will is a powerful tool which could inspire personal growth and solidify your lasting legacy. Contact Legacy Estate & Elder Law to learn more about creating an ethical will.
The information provided is not intended to be legal or tax advice and does not constitute any attorney/client relationship. You should consult with an attorney for individual advice regarding your own situation.
Ms. Melancon is an attorney with Legacy Estate & Elder Law of Louisiana, LLC with offices in Baton Rouge, New Orleans and Lake Charles, LA. The primary focus of her practice is estate planning, probate, special needs planning, and elder law. For more information or to attend an upcoming estate planning seminar, call her office at (225) 744-0027.
