A lot of people think about monetary transfers and nothing else when estate planning is mentioned. In fact, there is a more complete approach in the form of legacy planning. There are things that you can do to enrich your estate plan and leave a lasting influence.
Personal Memoirs
It can be difficult for people to understand the thought processes of their parents and grandparents. When you are engaged in your legacy planning efforts, you can provide some meaningful insight on this level.
You could share your formative experiences in your personal memoirs. If you don’t consider yourself to be much of a writer, you can do this in audio or video form. Going forward, your loved ones will have a renewed understanding of the path that you have taken.
Family Heirlooms
If you have heirlooms in your possession that have been handed down, they are meaningful on multiple levels. Many items that have been passed down have monetary value, but the sentimental value is priceless.
You can evaluate each piece that you have and think about the ideal caretaker going forward. Once you have connected the dots, you may want to consider giving the gifts while you are living. In this manner, you and your loved ones can enjoy a very special passing of the torch.
Family History
As an older person, you have interacted with relatives that have passed away. In addition to the memories that you have about interacting with them, they invariably told you stories about ancestors that you never met.
When you are creating a legacy plan, you can pass along the family history that you remember. A lot of people become interested in their roots at some point, and this information will be invaluable.
Ethical Will
The ethical will is a document that has been used since biblical times, stemming from the Judaic tradition. Though it is not legally binding in any way, it can be a very meaningful addition to your legacy plan.
Originally, ethical wills were designed to share moral and spiritual values with loved ones. These days, experts on dying recommend ethical wills with broader parameters. There are no rules; you simply write a final letter to your loved ones sharing any thoughts that you would like to convey.
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Need Help Now?
If you are ready to take the final step and work with a Petaluma, CA estate planning lawyer to put a plan in place, we can help.
There are different approaches that can be taken, and the ideal way to proceed will depend on the circumstances. When you work with us, we will learn about your family dynamic and your legacy goals and make recommendations.
Ultimately, you will emerge with a tailor-made plan that is perfect for you and your family. To set the wheels in motion, send us a message or give us a call at 707-769-9975.
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