What is an ethical will?

| Jan 21, 2021 | Estate Planning |

When you’re gone, how will you communicate your values and life story to your loved ones in Colorado? An increasing number of people are choosing to leave behind an ethical will. Unlike a traditional will, which is focused on dividing up your assets, an ethical will can tell the story of your life.

How do you write an ethical will?

Since ethical wills aren’t legally binding, there’s no strict framework for writing one. You can write a document, film a video, make a recording, create a book or use another form of media. You can also include artwork, photographs, music and anything else that makes your ethical will come to life. Unlike most forms of estate planning, ethical wills allow you to be creative.

Some people choose to write about the values that they want to pass along to future generations. Others talk about their life story and the lessons that they’ve learned over the years. You can share some of your memories, talk about your family members, tell your descendants what you want them to accomplish and anything else you want to include.

An ethical will can be a valuable document for your family members. However, keep in mind that it’s not a replacement for a will or other forms of estate planning. Talk to an estate law attorney if you’re ready to start planning for the future.

What does estate planning involve?

If you’re new to the world of estate planning, an attorney may help you evaluate your assets and write a comprehensive will. A will gives you the opportunity to pass along your assets to your friends and family members. If you don’t write one, your estate will be divided up according to state law, which might not be what you intended.