If you do not prepare a will, the state will draw one for you, and chances are very good that your survivors will not like the provisions. The legal term for dying without a will is “intestacy,” and the distribution of your property will be based on the intestacy laws of the state in which you reside at the time of death.

In the absence of a will, the Probate Court will appoint an administrator, such as a family member or local attorney. Then after a complicated procedure, all of your assets will be distributed according to the state’s formula.

Your estate consists of personal property (furniture, jewelry, clothes, automobiles), investments (cash, savings, securities), real estate, employee benefits (group insurance, retirement or profit sharing) and other items such as the proceeds of a lawsuit against someone who accidentally caused your death.

You cannot rely on joint property title as a substitute for a will because it does not solve problems arising with the second death. Some forms of joint title do not pass entirely to the surviving spouse.

Having a will drawn can prevent family disputes, and will give you the opportunity to be certain that your property will be distributed promptly to the parties designated as beneficiaries.

Your will should designate an Executor to carry out your bequests efficiently and promptly and with less expense than if there had been no will. The will should also provide for flexibility in the administration of your estate. You may also wish to provide special bequests to non-profit organizations.

Having a will prepared will also help establish a relationship with an attorney, which could be extremely valuable in the future. Naturally, a will should be periodically reviewed and updated to reflect changing personal circumstances and new tax laws.

Ethical wills are written to preserve family values for future generation in the form of statements of your principles and beliefs. These documents are not legally binding, but, a way to share your beliefs and memories with loved ones.

You can share your values, hopes, life’s lessons, loves and forgiveness with your family members and community. You can honor the past, capture the present and inform the future. This “values and vision statement” affords you the opportunity to leave an intellectual, spiritual or cultural legacy that can influence future generations.

There are no rules as to the structure or length of these wills. These documents are private since they do not have to go through probate. On the other hand these wills are not enforceable in a court of law.

How to set one up:

The hardest part of writing an ethical will is how to begin. There are three basic ways to write an ethical will. You can begin with an outline and list of suggestions. This is by far the easiest way to get started. Once you’ve created a rough draft, you can review and personalize it as much as you wish. Second, you can also begin with guided writing exercises. Examples: “From my grandparents, I learned …”, “From my parents, I learned …”, “From experience I learned …”, “I am most grateful for …”

The third way is to begin with a blank sheet of paper. Write down whatever is relevant about your thoughts, experiences and feelings. This is an open-ended approach.

>Some resources<

In Print:

Ethical Wills: Putting Your Values on Paper, by Barry K. Baines, MD, 2nd Edition (Da Capo Press, 2006)

Women’s Lives, Women’s Legacies: Passing Your Beliefs and Blessings to Future Generations, by Rachel Freed (Fairview Press, 2003)

The Wealth of Your Life: A Step-by-Step Guide for Creating Your Ethical Will
by Susan Turnbull (Benedict Press, 2005, $19.95)

On the Internet:

www.ethicalwill.com

www.personalhistorians.com

www.yourethicalwill.com