Explore these helpful conversation starters to jumpstart your family legacy planning.
Why is family legacy planning important?
The importance of discussing your charitable wishes with your Successors during your lifetime cannot be overstated. These conversations, while difficult at first, can strengthen family bonds and provide comfort, reassurance and clarity for both you and your heirs. The more you involve your heirs in estate planning conversations, the more likely they are to take actions after your passing to continue your charitable legacy for generations to come.
How to start the legacy conversation
In addition to documenting your values and life lessons in the form of an ethical will or legacy letter, try these helpful legacy conversation starters the next time your family is all together, whether for the holidays or another occasion:
- What key childhood memories would I like to share—ones where I learned an important life lesson?
- What do I value most in life?
- Which family heirloom(s) do I want to pass on to future generations? Why?
- What words of wisdom did my parents or another significant person share with me?
- Which family stories do I hope future generations continue to tell one another?
- What relationships, opportunities and experiences am I most grateful to have had?
- What am I passionate about? What gives me a sense of purpose?
- What principles guide my decisions?
- What was the happiest moment of my life? What am I most proud of?
- Who are my heroes? Who inspired my charitable giving journey?
Communicating your values
Once all the mechanics are in place, the most interesting and thought-provoking part of the succession planning process begins. Communicating the “why” behind this planning and transmitting your deeply held values to your family is the culminating step. This can be done in several ways, including writing a legacy letter, also known as an ethical will. Learn more about ethical wills.