When working with life insurance clients, I usually (although not always, to my shame) ask if they have a valid, current will. Such an instrument is important for a number of reasons, not the least of which is to ensure that one�s final wishes are known, and (hopefully) carried out.
Wills generally cover the disposition of property, caring for any children, and charitable bequests. But what about one�s legacy?
Hunh?
We�ve all heard about �living wills,� but what about �ethical wills?� One of my absolute favorite books is �Ender�s Game,� by Orson Scott Card. In it, he introduces a person called a �Speaker for the Dead.� It is this person�s job to forthrightly report on the life of the dearly beloved, warts and all.
Absent such a person (it is science fiction, after all), an ethical will is a means for one to sit down with one�s estate planner and talk about life experiences, what one�s learned (and what one wishes had been learned), family history, personal stories (funny and sad), and the like. And, of course, how one wishes assets to be �divvied up.�
�In a recent Harris Interactive poll of 1,200 Americans aged 40 to 59, 77% of those surveyed said that knowing exactly their parent�s values was very important, while only 10% said it was important that they inherited financial assets from their parents. � (ibid)
Hopefully, we�ve learned what our parents lived, and have, in turn, helped our own children adopt an appropriate value system. But I found this idea to be quite interesting: to not just assume that they know, but to ensure it.
Food for thought.
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