JANuary 29, 2001

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 Estate Q&A
Q: What is an Ethical Will?

A: An individual's last will and testament gives instructions for the distribution of his or her assets and for other important legal decisions. An ethical will is not actually considered a legal document. It provides a means by which an individual can share personal values, beliefs, lessons, hopes, and other matters of intimate importance to the individual and his or her family members.

Why create an ethical will? Here are a few of the most common reasons:

  • Creating an ethical will can help you identify what you stand for and what you value most;
  • By articulating these values, you can help ensure that they will continue in the lives of your descendents;
  • It can help you come to terms with your own mortality;
  • It can provide a sense of completion;
  • It can help you make a lasting difference by which you will be remembered.
An ethical will can also be a valuable part of an individual's estate plan. It can provide guidance for members of family foundations and for trustees of family trusts. They also can explain to beneficiaries the histories behind special family bequests. Oftentimes, a decedent's ethical will itself can become a loving beneficiary's most cherished heirloom.