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When most people think about estate planning, they picture money and property. But more and more people are adding intangible assets to their estate plan. Intangible assets might be things that have no monetary value but are nonetheless important to the family. They may include personal letters, a recorded family history, or digital assets such as electronic photos.
Even if you think that you don't currently have intangible assets to leave behind, it's never too late to start a collection. Letters to your children, photo books, cards or words of wisdom can be incredibly comforting for loved ones when you are no longer around.
The following list can be used for inspiration when creating intangible assets that can be included as part of your estate plan:
- Annual birthday cards or recorded greetings
- Congratulations on life events
- Stories from the deceased's life (oral or written)
- Handwritten cards or letters
- Life lessons that should be passed down
- Video instructions on how to do something (make a favorite recipe, for example)
- A family tree to be passed down to future generations
When clients meet with us, they are often pleasantly surprised at the creative ways we can help them leave a legacy that goes beyond money. For example, we offer recorded interviews with guiding questions during a priceless conversation interview.
We also offer a wonderful book, "Leaving With Love" -- by Gayla Gabriel, a grief therapist and life coach. It provides guidance for creating a keepsake of personal notes for your loved ones. It even has envelopes!
Call our office and schedule a consultation to start the process for your family today.