Baby boomers know money isn’t the only important aspect of estate planning.
Baby boomers want to leave their family more than just financial assets. According to a 2012 study released by the Allianz Life Insurance, Co. baby boomers identified family values as some of the most important things to pass down to heirs.
In 2012’s economic climate, it was no wonder family values imparted through stories, life lessons, and family possessions were at the top of the list. In an economic downturn, financial inheritances are more tenuous, unlike the abiding worth of family values. Thus, family values, tax-free of course, made the top of the list in importance.
However, a similar study conducted in 2015 by the same company showed that family values were also among the most important legacies boomers wanted to leave behind, even though the economy was more robust.
These studies show the enduring importance of family values, morals, and meaningful possessions as part of a carefully crafted estate plan, regardless of the economic climate.
Do you have family values you wish to pass on? Of course, you do. And yet you likely haven’t taken action to ensure the legacy you are leaving is the one you really want to leave behind.
It is easy to include family values in your estate plan when it’s built into the process. It is not the norm with most estate planning lawyers or with the DIY legal document services. We know that your financials will be managed by estate law, but what about your memories, your values, and your teachings? Consider including written memoirs, video or audio recordings of family stories, or your advice to children, grandchildren and other family members in your estate plan. These are the valuables most likely to be lost after your death. Wouldn’t it be nice to preserve them?
Could you imagine how valuable it would be to hear your family history directly in the words of your grandparents, great-grandparents or even earlier generations right now?
If you want to pass down a truly holistic legacy, one that manages and preserves both your finances and your family values, start by coming in to meet with us for a Life Planning & Beyond Session. As your Personal Family Lawyer®, we will guide you in creating a comprehensive estate plan that protects and preserves your family’s heritage.
This article is a service of Yahima Suarez, Personal Family Lawyer®. We don’t just draft documents, we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life Planning & Beyond Session,™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office at 305-456-7158 today to schedule or click Life Planning & Beyond Session and mention this article to find out how to get this $250 session at no charge.