A moment will arrive in all our lives when material items we cherish and everything that physically represents what we have accomplished will be given away.
From financial assets to your clothes, everything you have ever worked for and everything you have poured your heart and soul into will eventually be gone.
Aside from what you choose to give to charities, the majority of your cherished items will likely go to your heirs.
This can be an overwhelming and emotionally draining process.
So, when and where is the best place to get started? And how can you make this an enriching and valuable process for you and your heirs?
The answer is: Storytelling!
This article and accompanying video are the first of a new four-part series titled, “Planning Your Legacy & Guiding Your Heirs.” To begin, we will look at how to prepare yourself and your heirs to understand the intrinsic value of what you’re bequeathing.
Everything Has a Story
Your life is not just lived. It is told, experienced, and shared through stories. Therefore, every item in your home has a story to tell. You are the one to tell it.
For what good is giving away an item of emotional value if you don’t also give away the story that makes it so meaningful to you?
For example, there is a story behind when and how you came into possession of an item.
The story involves the occasion on which you received it, who gave the item to you, all of which contain emotions, experiences, and the meaning behind the item itself. They all make up important pieces of your life story.
But not everyone gauges the value of things the same as you.
What you choose to give away in your will, and whom you choose to give it away to, requires careful planning. You don’t want to give away something from your life you view as priceless, but an heir perceives as a worthless object.
How do you accurately convey not only the story behind an item in your will but do so in a unique and meaningful way that your heirs will treasure?
Inventory Your Items
Knowing the story of everything you will give away is not necessary, because some things you will anonymously donate to charity.
This is about getting reacquainted with the story behind the most cherished items you choose to include in your will. That is why the best time to do this is when you begin inventorying your items.
This includes the physical, tangible items in your home as much as it does your money, financial assets, intellectual property, and even digital assets that make up your social media presence.
However, inventorying your items goes beyond just making a list of what you have and who will receive it. This is where you can tell the story behind the things you are itemizing.
Record Your Story
With the level of technology at your fingertips nowadays, you are an amateur photographer and filmmaker rolled into one. With your phone or tablet, you can make beautifully meaningful videos of your most cherished items.
The key to unlocking the value of what you will be giving away in your will is your personal story with each item. At the heart of your story is why you have cared for this item, what it means to you, and why you are choosing a specific person to give it to.
Here are seven prompts to help you start this process:
- What emotions do you feel when you look at this item?
- Is it something you bought on a trip?
- Does it remind you of someone you love?
- Is the item something you received as an inheritance?
- Is this something only you can see value in? If so, why?
- Who else do you know would value the item as you do?
- What is the emotional connection between this item and your heir?
This Is Deeply Personal
Putting together a video of a cherished item for your will is akin to a time capsule. It’s a unique experience that captures deeply personal emotions only you can convey. This is every bit as valuable as the item you’re bequeathing.
What you are passing on is not necessarily the item itself, as much as the story of what that item represents. Therefore, the act of recording this and sharing the emotional connection behind an object in your will is as personal as anything you do.
Due to the personal nature of this project, telling the story and recording yourself can be challenging at first. Allow yourself the safe space to mess up, to get emotional, and let your true feelings flow.
Yes, this can be difficult at first. But it is incredibly important and valuable to you and your heirs, making this an essential part of passing on your legacy.
I invite you to join me in the video where I will share additional insights along with journal prompts to help you integrate what you’re learning.
Let’s Reflect:
Have you done your will yet? What special items are you leaving to your heirs? Have you told the stories of those items? What storytelling medium did you use?
