Ethical Will Can Punctuate Estate Plan
Jan 26, 2012 / By: Esther C. Wang, Elder Law Attorney, VA Accredited Attorney / Category: WillsThere are a number of different types of wills that are used in the field of estate planning. The one that is most commonly understood is the last will, a document that was once known as a “last will and testament.”
There was a time when the will portion of the document was used to direct the transfer of real property while the testament was utilized to distribute personal possessions. During our current era both types of property can be transferred utilizing a last will.
Another type of will that is highly recommended by San Bernardino estate planning attorneys these days is the living will. With these documents you record your preferences regarding possible medical treatments in the event of your incapacitation. Whether or not you would want to be kept alive via the use of artificial means if you were in an irreversible terminal condition is at the core of living wills.
A much lesser-known type of will that we would like to introduce is the ethical will. With these documents you pass along your moral and spiritual values to your loved ones in your own words. Though sharing of values is traditionally what ethical wills are utilized for, you may essentially share whatever it is that you would like to with your loved ones as your final act of communication.
An ethical will can be a valuable and heartfelt punctuation to your legacy. Taking the time to author one is something that you may want to consider when you are planning your estate.
The Elder & Disability Law Firm is a member of the American Academy of Estate Planning Attorneys.
