I meet with many clients every year who wish to plan for their after-death gifting. The gifting of assets using a Last Will and Testament is responsible and essential, but it does not go far enough. What about your family’s emotional well-being? Do you need an Emotional Will?
An Emotional Will is not a legal document, and not even a single document at all. It is a way of thinking about the emotional and practical challenges your family will face after you are gone and then preparing to ease those challenges. For example, your legal and financial documents should be updated and organized. This is an act of love that will help your family resolve your final affairs. Ask yourself, “How will my loved one’s lives be disrupted by my death?” Then take action to eliminate those disruptions.
That was a practical example, but what about your family’s emotional wellbeing? Imagine you could speak with them at your funeral. What would you say to them to soothe their grief and let them know how much you love them? Well, you CAN be there. Prepare a letter or note to be read by them. You can be there for them, even at death.
An Emotional Will is comprised of ways to give emotional gifts to your loved ones after you have passed. It is an essential part of estate planning.