Estate Planning

What is Legacy Coaching?

By Hull & Hull LLP

It is trite to say that estate disputes carry a tremendous financial and emotional toll on the disputing parties. A clear and up-to-date estate plan and Will are generally the best ingredients to avoid litigation. Of course, when the testator's intentions are disputed, it is often necessary to retain legal counsel. While lawyers can address the legal complexities associated with the dispute, they are not professionally trained to handle the emotional baggage that is part and parcel of the legal process.

Recently, I had the opportunity to speak at a workshop run by Linda Somers who acts as a legacy coach for individuals who seek to take control of the legacy they want to pass on to their family and friends. While a legacy coach is not versed in the intricacies of the law necessary to create a Will or an estate plan, the coach instead focuses her attention on assisting others as to how they wish to be remembered during their lifetime.

One of the most interesting aspects of legacy coaching is providing individuals with the opportunity to prepare ethical wills. It should be noted, however, that an ethical will is not a legal document. Rather, its goal is to convey a person's values, beliefs, hopes and aspirations to family and friends. The ethical will serves a unique purpose, given that it transmits the individual's "raison d'etre" during her lifetime. This information simply cannot be conveyed in the often complex and unemotional legal jargon contained in a Will.

Thanks and have a great day,

Allan Socken

Full post as published by Toronto Estate Law Blog on March 31, 2008 (boomark / email).