When one thinks about creating his or her estate plan, they usually think in terms of executing a Last Will and Testament or a Living Trust. However, in the last several years there has been a new and popularized estate planning concept called “Ethical Wills.”
An Ethical Will is a non-legal and non-binding document. It is a vehicle for someone to convey to his or her loved ones the non-material assets that are of great importance. These non-material assets can include such things as your life story and the lessons that life has taught you. It shares stories of the people, places and events that shaped you over your lifetime. An Ethical Will also can communicate which charitable causes are important to you, such as the Capuchin Franciscan Province of St. Joseph, as well as your values and your faith.
Any individual can create an Ethical Will. It does not require a lawyer or other professional advisor. It can be as simple as a paragraph or one page letter that you place in safekeeping with your Will or Trust. It also can be a video or even a multi page document that you can spend months on. To help you create your Ethical Will, please contact us to request a free copy of our booklet, “My Life’s Memories,” which will help guide you through creating your own Ethical Will.