The Creation Of An Ethical Will

Ethical wills are one of our most effective tools for passing onto loved ones and generations ahead our wishes, memories, traditions and values. Many affluent families are becoming increasingly familiar with the idea of passing on the hopes and instructions to family members by means of a written document or perhaps a video recording as ethical wills.

A couple of years ago, a movie titled "THE BEST Gift" was based on this concept, where James Garner was the character who had passed away, communicated his instructions and requirements on a video tape to the youngest family heir. It had been a very effective tool in the movie and helped make for an extremely moving story.

In life, we experience many of our joys and cherishes within our memories. Those memories are stored in us and when we pass on, so do our memories to share with our loved ones. The memories, great experiences and lessons of our past, the items and people we have been so fond of and, within us, carry deep meaning and relevance.

Many times, it will be to our wishes that people shared these things with our family members well into future generations. The beautiful times we shared with our family members and our friends, the lessons we learned and the items and values that people so dearly hold, we would like to pass onto future generations.

An ethical will is a very useful tool to accomplish this objective. Ethical wills aren't new. They existed even back through the Old Testament biblical times to which it had been a tradition to assemble loved ones around the bed of a dying relative. However, during this early period, the ethical will was an oral tradition where in fact the dying family member would tell the family members important lessons of life and family stories to transport on in the tradition of these family and future generations.

Nowadays, we utilize ethical wills to pass on these things in a form of a cherished gift to your loved ones. It is a gift on paper that shares great memories, important lessons, values of the family, wishes to be carried out, and proud traditions to be passed onto another generation.

Often times, members of families not only have wonderful memories and lessons to pass onto loved ones and future generations, but then think it is to be it too late to take action because our lives have come to pass or our health has failed and we have been no longer in a position to take the time to record these lessons and memories.

Writing an ethical will can be an emotional challenge because it acknowledges one's mortality and one's past. But an ethical will is a document that includes heart felt words and involves passing on more than material things and money.

Writing an ethical will isn't a legal exercise, rather, this can be a letter written from the center sharing your most valued lessons and cherished thoughts. It is a great opportunity to secure the meaningful reminiscence of days gone by specific to a particular family member or to each of the children.

It ought to be carefully crafted but it does not have any specific formula to adhere to. Furthermore, it is strongly recommended that you write one on a designed and protected document to secure the writings, make it more meaningful, and storable for most generations.

Formulating Your Ethical Will

Although there aren't any specific topics to include in an ethical will, listed below are several recommended steps and some suggestions about topics to consider authoring within your document.

Suggested Steps:

The actual writing of the ethical will can be an emotional deep thinking process. You do not have to complete it in a single sitting. In fact, it really is sometimes recommend that this is a thing that you revisit during the period of several days. Take time to write it. This is a very meaningful and intimate document which will last for several generations.

First suggestion: Pick a quite and private place to commit yourself to for an hour or more to begin your writing journey. A place that's without interruptions, relatively speaking and a place to where you could sustain inner peace and relaxation. It could sound hokey, nonetheless it is important to take action for yourself.

Second suggestion: Don't make an effort to rush it. If you need to put it down after a few years, that's fine. Give on your own time, and further more, begin with a rough draft.

Third suggestion: Cover a variety of areas to record your writings from. Below are a few general areas and topics that you may want to consider:

Important Family Members that you experienced and EVERYTHING YOU Remember About Them

* What are the considerations you learned from your own grandparents?

* The great reasons for having your parents and the important lesson

* Lessons from your spouse, children and others

Important People Beyond Your Family

* The two or three most influential people during your childhood and how were they influential in impacting the individual you are as well as your values?

* What are the most important relationships in your life and why?

Important Lessons and Experiences in Your Life that you would like Them to Know

* What exactly are you grateful for?

* The holiday season you cherish the most and why?

* The important values that were passed onto you by your grand parents and/or parents?

* What are a few of the reasons for having your heritage define who you are?

* How much of a role does your heritage play in your life now?

* Stories and experiences about your home town, and how achieved it mold the kind of person you have become?

* What is an important lesson you learned in your early life and how does it continue to influence your beliefs and values? Who or what taught you these lessons?

* Did you have an event growing up that was life changing? If so, describe it and explain why it was significant to you.

* What are your deepest feelings you may have for them and or the household and why?

Important Accomplishments, Ideas, Values, etc.

* What are the things missing in your life?

* What are the most significant decisions you have made in your life and just why?

* What are the best decisions you earn in your life and why?

* Do you know the worst decisions you earn in your life and just why?

* Define your definition of success?

* In looking to the near future, name something you would like to accomplish or happen through the rest of your life.

* What do you feel are some of the most crucial qualities a person needs to live a rewarding life?

* What can you feel is really a real measure of success?

* What was your greatest challenge during your life and what did this experience educate you on?

* Do you know the universal principles that hold your loved ones together?

* Describe your proudest moment and how it has affected your daily life and values.

* What are some of the most significant ideas or lessons you would like to pass on your children, grandchildren or other loved ones.

* That which was the single most significant experience of your daily life and just why was it so vital that you you?

* If you could pick three things that your loved ones should remember about you what should those ideas be and why?

Philosophy on Money and Wealth

* What can you appreciate most about money and why?

* What do you fear most about money and why?

* What do you want material gifts to be passed to your heirs to perform for them and just why?

* What concerns are you experiencing about the distribution of your material wealth in your legacy and why?

* What are the things that concern you probably the most with transferring your wealth?

* What do you would like to achieve before you leave this life?

* What do you really cherish and love about your life?

The start of the will should address who you're writing it to and why you are writing it in their mind. An extremely compelling approach is to express your hopes and desires/wishes for the future.

What's your vision for the family in the future? How would you want them to keep in mind along the way in their lives, things to watch out for, mistakes in order to avoid, how do you want to see them view and approach life.

A good idea is to cover your idea of do you know the important values that you imagine will help them become and continue being exceptional humans. Maybe include specific family events or memories. Include thoughts and words that have defined your own life.

Steve Zeller and Trevor Kern, Advisory Services offered by Zeller Kern Wealth Management among the leading Sacramento Financial Advisor firms and a Registered Investment Adviser. Please visit http://www.zellerkern.com or call 916-436-8270 for more tips on preserving family wealth.