Wednesday, November 18, 2009

Add the Human Element to Your Estate Plan



When most people think about estate planning they envision trusts, trustees, executors, lawyers, and all the other complications associated with providing for loved-ones. All this is, of course, necessary and often takes a team of experts to put together. But there is something that you can do on your own, modify whenever you wish, and that will outlast the largest estate.

Create a Cultural Heritage Document

A Cultural Heritage Document is a legacy of your life — a kind of farewell letter.

You can make it as short or as long as you wish. It is a way for you to tell your family and future generations how you feel about life, your experiences, and decisions you’ve made, and the moral standards you hope they will inherit from you.

There is no right or wrong way to start. You can begin with something that happened today or go back to your childhood. Just let it come from the heart and the words will flow. You could include stories about your ancestors, people or events that shaped your life, previously untold tales, or things that you did which you now regret. If you don’t feel comfortable writing, make a Cultural History documentary. Record it on audio tape, a C.D. or in a video format.

What’s in it for you?

Besides offering guidance to your heirs, a Cultural History document — or documentary — may help you come to terms with your own mortality. You are passing on to future generations some part of yourself beyond your estate assets. You are giving it a life beyond your lifetime.

After you create your Cultural History, make sure someone knows about it. You should tell a close friend, your attorney, and/or a trusted family member where it is, who should receive it, and when they should read it.

If you would like a free skeleton outline on which to prepare your Cultural History document, e-mail robertsumnerjackson@yahoo.com. with the request.