National Regifting Day and Your Estate Planning
By Barry Zimmer on December 11th, 2011 in Estate Planning
The founders of Regiftable.com have declared the third Thursday in December to be National Regifting Day. This year, it falls on December 15th. You might well ask, “Why did they choose the third Thursday in December?” Another question might be, “How do regifting and estate planning relate?”
Good questions. According to Regiftable.com, December 15 is the most common day for holiday office parties in the United States, which in turn is the day 41 percent of regifters target coworkers as the recipients of their re-gifts.
At this point you might also be asking yourself “Isn’t re-gifting a taboo of some sort — why would anyone do such a thing during the holidays?” Well, it would appear that the majority of people, some 60 percent, now think re-gifting is okay as long as it falls within certain boundaries of decorum. Regifting.com describes the number one rule of thumb in this way:
“Other than not hurting the feelings of the original gift giver, the most important thing is to be sure that the re-gift is suitable for the new recipient. Are you merely burdening someone with an unwanted item, or presenting someone with something they are likely to enjoy?”
Translation: no fruitcakes, no ties, no scarves (unless, of course, the scarf is made by Hermes).
At Zimmer Law Firm, we think National Regifting Day affords us all the opportunity to think about re-gifting in a different light. By that we mean re-gifting the values, wisdom, traditions—the love—bestowed upon us by previous generations to our children and grandchildren today. Re-gifts such as these are impossible to attach a price tag.
So this year, feel free to re-gift that popcorn popper, as long as you know the recipient likes popcorn. And then, when you are sitting by the fire with your family, re-gift the things that really matter. Your values, life-lessons, and stories, including those of your living and departed family members. Also with your dreams and hopes for the future and the people you love. But don’t just limit re-gifting to holiday season. Make it part of your family bonds and relations every day of the year!