Giving Meaning to Your Estate Plan
On a recommendation from my wife, I read a book by Daniel Pink, A Whole New Mind. According to Mr. Pink, we live in a "Conceptual Age" and there are "six high-concept, high-touch senses" important now to the development of the "new mind."
A couple that resonated with me especially was "story" and "meaning" (others are: design, symphony, empathy, and play). While many things in the book resonated with me, these two really struck a cord with how I think about estate planning...
Every painting in my house has a story behind it. One is inherited from my grandmother, one from my great-aunt, some paintings were acquired on my trips to other states, and finally others in Europe. My wife personally knows some of the artists, and knows where, when & why an artist painted a particular painting. Each of our paintings has a story, a sense of history---meaning.
Is there a story about your life, you would like your grandchildren to know about? Is there one lesson you would like to teach them? Is there a reason why you are leaving that house, a painting, an antique (or anything else) to a particular person? Is there a reason why you chose a certain charity, not the other? Is there an interesting story behind some your acquisitions?
At the end, we treasure our assets, but also as important, if not more important, are our stories, and experiences--our ability to give a sense of history. Meaning of it all, in our own mind.
In my mind, estate planning can be, not just about transferring your money but more about your life, about your values and experiences. A written letter, audio CD or more elaborate video can be one intangible asset you leave (along with your estate plan) and the one that is treasured by your loved ones.
