When you are making preparations for the future financial considerations may be foremost in your mind. Making sure that your family members are provided for after you pass away is extraordinarily important, and the best way of doing so is going to vary on a case-by-case basis.
This is why you would do well to take pause before buying into any of the do-it-yourself estate planning kits or software programs that are offered by the Internet marketers. We are talking about your final act of giving, involving all the assets you been able to accumulate throughout your life. This is not something that you want to enter into without expert legal advice.
This being stated, everyone is aware of the Last Will, which is the most commonly used vehicle of asset transfer in the field of estate planning. Most people have also heard of a Living Will, which is a document that is used to express your wishes with regard to medical procedures that you would accept or deny in the event of your incapacitation. But there is a third type of Will that can be a valuable component to your estate plan called an Ethical Will.
There’s more to estate planning than meets the eye, and in addition to the financial and incapacity components you may want to consider providing a legacy of wisdom, guidance, and insight to your loved ones. This can be accomplished through the creation of an Ethical Will. These documents have been used for many centuries, dating back to biblical times. With an Ethical Will you share your innermost thoughts with your loved ones, and traditionally this has included moral and spiritual guidance. However, there are no hard and fast rules; with the Ethical Will you simply communicate your parting thoughts to your family in a heartfelt manner.
Money is great, but it can’t buy wisdom. Consider including an Ethical Will in your estate plan to provide your loved ones with a source of wisdom that will be available to them even after you are gone. The Zimmer Law Firm can help with this process. Call 513.721.1513 for a consultation.