Going Beyond Legal Language with an Ethical Will
December 3, 2009
Estate and Legacy planning documents are often seen as difficult, and boring pieces of paper—which in some ways is exactly what they have to be in order to someday withstand tough legal scrutiny; but unless you’re an attorney who is practiced at reading the sentiment between the lines of dry legal jargon, these documents don’t make for sentimental family heirlooms. This is why some families and individuals are choosing to make (in addition to their legally binding estate planning documents) personal ethical wills to leave to their loved ones.
An ethical will can be anything from a letter to your children expressing your love and hope that they carry on your values, to a novella length memoir detailing your life experiences. But what about those people who don’t have the ability or inclination to articulate their thoughts in pen and ink? Well, more and more these people are turning to the camera and making their ethical wills on video.
A video will, as suggested by this article in the Wall Street Journal, is an unparalleled way to let the younger generation know about your feelings and values. “No matter how clear your memories of someone may be, if you have them on the screen in front of you, talking to you, there’s a qualitative difference.” And a video will, if made correctly in the presence of your estate planning attorney, might even have the added benefit of preventing disputes and bickering between your heirs later on.
What we like best about the idea of ethical or video wills is the personal touch. Although we work every day with the “dry and boring legal jargon”, we know that underneath all that an estate plan is about love and values—it’s about family. And an ethical or video will is a way to add a personal touch to the formal written Will or Trust, which is still necessary to meet legal requirements. So, consider doing both together to pass on, not only your assets, but also your values and hopes.
You Ought To Be In Pictures: When and How To Create A Video Will
May 28, 2009
The process of creating a last will and testament hasn’t changed much over the centuries, and the requirements are few: Paper, pen, witnesses, and a testator who is of sound mind. This endurance and simplicity is one of the hallmarks of estate planning—and yet there are plenty of ways to incorporate technology into our practices and use it to our clients’ advantage. One way to do this is with the use of video wills.
A video will is created when the testator reads his or her will in front of a video camera, and occasionally explains why certain gifts were granted and why some were not. It may include some discussion back and forth between the drafting attorney and the client, in regard to selected provisions of the Will, some detail in regard to family members mentioned or omitted, and perhaps some general colloquy to show that the person making the Will was of sound mind. The benefit of creating a video will is that it can be used to establish the mental competence of the testator. As such, a video will can be especially helpful to elderly clients whose heirs might be inclined to contest the will on the grounds that the testator was not of sound mind, or was making the Will subject to the undue influence of others.
Although a video will can be a helpful addition to your estate plan, it can in no way replace an official paper copy, signed in the presence of witnesses. A physical writing of your will—drafted by a knowledgeable attorney and with your official signature made in the presence of the required witnesses—is the only valid legal evidence of your wishes for the distribution of your property. A video will by itself will not hold up in probate court.
Technology brings great improvements to our lives, but adaptation takes time. Talk to your attorney first if you are considering incorporating a video will into your estate plan. Although it can be helpful, a video will is not always necessary, and could in some cases be detrimental if not done correctly. You should only film under the advice and supervision of your trusted attorney.
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