The ancient ethical will is a beautiful tool for those who don’t want their legal will to be their only “last words.” Updated for a modern audience, the ethical will is a non-binding personal legacy letter (or recording) that is attached as a side document to legal documents. With roots in medieval Jewish wisdom tradition, the ethical will has been rediscovered by people of all ages and faiths as a lovely and sensible instrument for timeless communication of the messages and information too important to go unsaid or fall between the cracks of generations. In short, ethical wills are love letters. They are created in the midst of life, works in progress by their nature, deeply satisfying for those who write them and treasured by all who are lucky enough to receive them.   Continue Reading

By Martin Siesta, CFP®

In many of the communities that I am a member of(our profession, local communities, non profits, and yes, my family), there is this underlying, and sometimes fully present conflict and stress. There is judgment about who knows better and where the wisdom lies. But what I have noticed is that when we invite each other into conversation where we truly listen, something changes. Perception is altered. Recently I participated in an intergenerational learning journey that had about 30 participants across generations. I was surprised at my immediate judgment as I just saw someone enter the room. Labels and shadow galore! Yet over several days, each of us were jarred, inspired and moved to tears at both hope and understanding.

Every aging generation questions whether the generation coming of age has what it takes to learn into maturity as defined by the aging generation. Easy for each to think it knows better than the other. The fact is that they will always know more together than they could in isolation or competition. Hierarchy has the relevance of fossils. In an age of wisdom, life is a circle and we dare to be peers.

© 2008 Martin Siesta, CFP®.  Reprinted with permission.

When we pass from this life, we will each leave a legacy. Regardless of our preparation-or lack thereof-for the end of life, we will indisputably leave something behind. That legacy will be both tangible and intangible.

Most of us know that the purpose of a will or living trust is to pass on the material things we want people to have. However, few of us have ever given much thought to how we wish to pass on our knowledge and beliefs.

That is where an old medieval tradition, something once called an ethical will, is gaining new ground. In those days, an ethical will passed on to descendants wisdom on how to live a life worth living. Continue Reading »

© 2008 Rick Kahler.  Reprinted with permission.

Richard B. Wagner, JD, CFP®

It’s one of those “best of times, worst of times” times. Account balances dissipated; hopes and dreams mutated to reflect new realities. Many of us have gone through severe depression ourselves, questioning our skills, our relationships and our profession. Others of us are seriously questioning our career choices -or our career choices are questioning us as bottom lines disintegrate. As one friend noted in his travels across the country, “people are really hurting out there.” Even our Nazrudin conversations have mostly engaged our lack of responsibility for unfolding events as we share tales of client loyalty and understanding. To my eyes there has been surprisingly little conversation devoted to assessing our responsibilities, articulating lessons to be learned or speculating about the skills we might need going forth. The skills you might need going forth. (more…)

By Martin Siesta, CFP®

Much of what I have been hearing and reading from planners is around questions like “What did I miss?” “What if this is different?” It is surrounded by fear and shame. Let’s step back.

I want to start off by saying, I believe that this crisis is “different” and it has been coming for a while. While the cost of the “bailout” has been in the headlines, it pales compared to the other debts that will come due all too soon:

• 12 trillion dollars to support the current and future beneficiaries of social security
• $140 trillion to fund Medicare as it is currently legislated
• $170 trillion to fund Medicaid (this is a difficult number to evaluate as it is a combination of Fed and State). (more…)