The Legacy of Your Estate: Beyond Finances

Many of us casually talk about estate planning, but have you asked yourself, “What is an estate?” The truth is that it is about more than just property, assets, and liabilities. While finances can be central to an estate attorney’s job, there is much more they consider when providing you with legal assistance.

An Estate is a Legacy

When choosing an estate planning lawyer, you should look for someone who understands what it means to preserve your legacy. Besides the loving memories, the estate you leave to your children, grandchildren, and other loved ones is what they have left of you.

Your surviving family members will likely want to keep various artifacts of your legacy, such as photographs, home movies, personal letters, holiday cards, and certificates and diplomas. There are also jewelry, fine china, fancy clothes, and keepsakes that might sell for little but have untold sentimental value.

But what else from your legacy will you leave behind?

Intangible Value of an Estate

In addition to leaving behind property, assets, and bank accounts, most of us want our life journeys to stay in our families’ collective memories. To this end, an estate includes more than anything of monetary value. It also encompasses intangible estate assets. For example, you might hope your descendants will reflect on your ethics, values, life lessons, and accomplishments.

Most of us agree that family history and emergent stories can contribute to an enduring legacy. Many people pass down their wisdom through interviews, memoirs, autobiographies, and other modes of storytelling. Intellectual assets—concepts, business knowledge, and intellectual property—also have storytelling potential. Your legacy may also be embodied in your training, schooling, and professional skills.

You can also pass down a legacy through your character assets. Your spiritual or religious beliefs, stories, philanthropic activities, or philosophical ideas can leave an impact with immeasurable value.

Estate Planning Lawyer in Cincinnati and the Tri-State Area

If you have questions about writing a Will or planning your estate, an attorney with Donnellon, Donnellon, & Miller will happily work with you. They can help you clarify the terms of your Will and make it official, legally binding, and straightforward. For more information on Wills and other estate planning matters, call our office at 513.891.7087 or complete our online contact form.