Wills and trusts deal with the transfer of material objects and financial assets. They are a necessary part of responsibly planning to ensure your tangible and monetary wealth goes to the right people and places and at the right time. Wills and trusts are drawn up by attorneys and have legal binding and control.

An ethical will is different in that it captures and conveys your intangible assets such as your ethics, wisdom, dreams, beliefs and values. It can be an intimate letter to those you love, communicating what is most important for them to know and understand. It can be written however you’d like and truly capture your authentic voice and stories.

What better time than the new year to reflect on your life and values? Here are a few tools to help you collect and record your thoughts: The Wealth of Your Life Guidebook provides a 5-step path for creating an Ethical Will. This could be one of the most meaningful gifts you can give to your loved ones – and also, in the process, to yourself. Everplans provides guides, resources, and an online platform to help you create digital storage of important information that your loved ones will need if something happens to you. The Who Gets Grandma’s Yellow Pie Plate? the workbook helps families address common decision-making obstacles when passing on personal possessions. It is filled with hands-on worksheets, practical suggestions, proven strategies, and real-life stories. In January 2021, Silver Oak Wealth Advisors will be hosting a webinar on personal legacy planning. Stay tuned for details and a registration link.