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While it is important to account for these aspects as part of a traditional estate plan, the passing of values, thoughts, philosophy and insights to your loved ones is also possible, and more individuals are doing so through a “family love letter”, otherwise known as an ethical will.

The power of personal stories: First and foremost, an ethical will holds no official place as part of the general estate planning process. The way in which it is formatted and presented to those you care about is entirely at your discretion. It can be uplifting, contain humor, and be presented in the form of a letter, or even an audio/video message.

A letter to last ages: Your financial legacy may dissolve relatively quickly, but coupled with an ethical legacy, it could live on for generations in ways that are even more impactful than money.