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Copyright 2004, Marc S. Weissman Certified Specialist: Estate Planning, Trust and Probate Law Certified by the California Board of Legal Specialization of The State Bar of California Weiss & Weissman, San Francisco, California (650) 574-0362 To Contact us: email Phone/Fax/Mail Homepage |
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This Article is designed to be of general interest. The specific techniques and information discussed may not apply to you. Before acting on any matter contained herein, you should consult with your personal legal adviser.
We often address division of assets at death; custody of minor children; financial managers for young beneficiaries. We discuss care for children in great detail.
But what about giving your children and others the benefit of the vast knowledge of life that you have accumulated?
Lessons you have learned (perhaps they can learn from your mistakes, avoiding the same mistakes themselves);
Personal experiences; or
Family stories and histories which will otherwise be lost forever.
How can you leave some of that wealth of knowledge when you die? It is better to share this knowledge while you are alive; perhaps the recipient is not ready to listen. Consider an "Ethical Will"; a letter (to be delivered after death) of advice about life. This is a wonderful way to stay connected with family over future generations.
[But if the advice is so good, why wait until death to impart it? Share it sooner!]
I have started a letter on my computer. I add to it regularly, whenever I am reminded of a lesson in life. Actually, I have 3 letters: 1 for my wife, and 1 for each daughter. Each letter has have a financial and personal section.
Some of the lessons are personal:
Most guys want only 1 thing; the others are weirdos.
Other are less:
Road Rage. Driving in traffic transforms some people into aggressive maniacs. When I was 28 on my motorcycle on the highway, a maniac tailgated me ....
Timeshares: No. IF you feel you must buy 1, buy it used on E-Bay after your wonderful vacation. Many people bought at the resort; when faced with reality after a few years, they dump them at a huge loss. Buy used! Better yet, don't buy.
Get Rich Quick schemes never work. Neither does gambling or the lottery (unless you own the casino).
Write down whatever you think is important to say. Maybe they will benefit; maybe not. But at least you tried!
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