Well-th Blog

Gratitude, Wisdom & Blessings: Writing an Ethical Will for Your Loved Ones

By Hightower Advisors / December 13, 2023

Befitting the upcoming holidays is a program about creating a gift that costs nothing and will only increase in value over time: the making of an ethical will, or legacy letter, written for loved ones or trustees. This thoughtful instrument provides space for your own personality, thoughts, and feelings alongside the impersonal legalese of estate planning documents. So, what exactly is an ethical will?

Traditionally, an ethical will is a non-binding, personal letter or recording intended for family members, trustees, guardians, or successors, serving as a repository for intangible wealth. Ethical wills include values, intentions, blessings, information, thoughts or feelings that are too important to go undocumented or get lost between the generations over time.

In the world of financial and estate planning, the term “legacy” is often intertwined with death and finances, framing one’s legacy as the final and most important task in life. Viewing legacy through this lens can carry a heavy and weighted sentiment. Alternatively, consider legacy as something dynamic—an ongoing reflection of how you wish to live, your values, and your ultimate aspirations for leaving a lasting impact. You cannot assume that people know everything that you’d like to be able to express or pass on to them. This is where an ethical will can help.

Who might want to create an ethical will? When should I start creating one and how do I go about it? What should I include and exclude? Can an ethical will be shared in life?

To answer these questions and more, we spoke with Susan Turnbull, Founder and Principal of Personal Legacy Advisors. Susan’s mission is to give voice to individual perspectives, stories, intentions and feelings to strengthen the kind of personal and family health and wealth that grows in value across generations and through time.

For further insights, including inspiring examples of ethical wills, watch “Gratitude, Wisdom & Blessings: Writing an Ethical Will for Your Loved Ones.” Come away with templates and tips for a gift that will be highly satisfying for you to create and will be treasured forever by those you love.

Worksheets and handouts:

More Than Money to Give: https://hightower.box.com/s/hk8jcjzvlx4tp6khp7uktiq1c0sfiqci

Universal Ethical Will for Loved Ones: https://hightower.box.com/s/peyasgokcqwhg69avtitzuvl3wk4iao4

Dimensions of Legacy: https://hightower.box.com/s/lyv5wbn4pi16oot1xxvuf4d8gzb7qfmv

Listen to the Webcast

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