The mere mention of the word “will" may invoke in many of us thoughts of our own demise, the death of loved ones, or family feuds over inheritance.
An "ethical will" or a "legacy letter" should evoke more positive thoughts. An ethical will is usually not a legal, binding document. Its purpose is not to distribute the “ tangible goodies” you are leaving for family, friends, or institutions. An ethical will is about imparting to family and friends “the values and life lessons you wish to leave to others,” wrote Dr. Andrew Weill in his book Healthy Aging: A Lifetime Guide to Your Physical and Spiritual Well–Being.
An ethical will is your inner self-portrait. Barry Baines, author of Ethical Wills: Putting Your Values on Paper, called it a “love letter” from the heart to family and friends.