Ethical wills: A personal element to your estate plan

With your traditional estate plan and will, you detail the breakdown of your assets. You can quantify your wealth and arrange for how you want it to be disbursed. 

Beyond simply distributing belongings and assets, an ethical will allows you to communicate your life’s values, beliefs, and experiences in a more profound manner. This legacy transcends mere material wealth, capturing the essence of who you are and what you stand for. As people increasingly recognize the importance of intangible heritage, ethical wills have become a favored method for conveying personal and family narratives. From recounting cherished memories to imparting ethical, religious, or spiritual guidance, these documents act as an intimate connection to your past, ensuring your wisdom and dreams continue to inspire future generations. By creating an ethical will, you have the opportunity to craft a meaningful testament that reflects your life's journey and offers invaluable insights to your descendants.

It’s important to understand that an ethical will is not a legally binding document. But with the addition of an ethical will to your existing estate plan, you can leave behind a more personal legacy for future generations. 

How to get started

Creating an ethical will is a deeply personal endeavor that doesn’t require the expertise of a legal professional, making it accessible and customizable according to your preferences. It primarily demands an investment of time and introspection, allowing you to ponder and articulate your core values, cherished memories, and guiding principles. This reflection is likely a process you’ve naturally engaged in, especially considering the profound changes and challenges everyone has faced in recent years. Begin by carving out moments to deliberate on the themes and messages you wish to impart to your loved ones. Take this opportunity to consider the principles that have governed your life, drawing lessons from both joyous events and adversities. As you engage in this reflective practice, remember that there’s no urgency or specific format to adhere to, granting you the freedom to draft a will that genuinely echoes your unique perspective and experiences.

Begin by taking a thoughtful approach to identify the audience for your ethical will, as this will guide the content and tone of your message. Consider who among your loved ones—whether children, grandchildren, or even close friends—you wish to share your personal insights, values, and stories with. Once you've defined the recipients, take the time to jot down the core messages and memories you hope to pass on. Don't rush this process; allow it to unfold as you reflect on your life's journey. Going through old journals, family scrapbooks, or photo albums can serve as a wonderful source of inspiration, providing vivid reminders of past experiences and achievements. Additionally, think about questions you wish you had asked your grandparents or other elders in your life; these queries can guide you in framing the legacy you want to leave. By doing so, you're not only preserving your history but also creating a bridge for future generations to understand and appreciate the depth of your life experiences.

Once you’ve set the framework, you can start to fill in some details. Remember, there’s no right or wrong way to approach this an ethical will is a personal document and can be as different as each person who creates one. 

It can be as short or as long as you like, and don’t hesitate to get creative! Your ethical will can be in any form you like: 

• A video  

• A letter  

• A poem or journal  

• A collage or other artwork  

• A family cookbook filled with recipes  

• A scrapbook filled with photos and souvenirs from your life 

Whatever you choose to include in your ethical will, and whatever form it takes, it will be a cherished gift for generations to come. 

HERE ARE SOME SAMPLE QUESTIONS ABOUT ETHICAL WILLS TO HELP SPUR YOUR THOUGHT PROCESS

• Which people or events helped form the person you are today?  

• What are the events or personal stories that, looking back, seem to have been most important?  

• What do you know about your family history that you can share with future generations?  

• What lessons and memories did your parents leave behind for you?  

• What are the spiritual, ethical or religious values that mean the most to you?  

• What charities or community organizations meant the most to you?  

• What is your favorite poem, prayer, saying or motto?  

• What was the best trip you ever took?  

• What are you most proud of?  

• What are you most grateful for?  

• What are the values you want to pass on?  

• What advice would you have for your children, grandchildren and future generations?  

• How would you like your loved ones to commemorate you in the future?