Sharing Your Message With a Legacy Letter
- Conveying the most important personal values and wishes for the future through a “legacy letter” and sharing it with loved ones now can lead to meaningful family dialogue and understanding.
- Self-reflection before drafting a legacy letter can help authentically capture values, experiences, and understanding.
- A legacy letter should be consistent with current wishes and the provisions in legal estate planning documents.
Conveying the most important personal values, wisdom, experiences, and wishes for the future in a succinct message for loved ones may seem like a Herculean task. A legacy letter’s purpose, however, is to do just that. The process outlined in this article can help individuals approach the creation of a legacy letter in a way that makes the most sense for them and their family.
1. Think about the audience.
Crafting a legacy letter is a profound and deeply personal journey, one that can leave a lasting imprint on the hearts and minds of your loved ones. We believe crafting a legacy letter is a way to share some of the invaluable intangible aspects of life—values, wisdom, and experiences.
Before sitting down to write, there are a few questions to ask:
- Who is the letter for? A message for a spouse or partner might differ greatly from one to an adult child, and both would likely be quite different from a letter to a young grandchild.
- What key points must be included? There is likely a huge amount of information to share, but are there specific topics to prioritize above the rest?
- Does the recipient have all the information they need? When planning a legacy letter, it is important to consider how much context is necessary to grasp the full meaning of the letter. If the letter discusses intricacies of the family business, but the recipient only has high-level knowledge of the operation, the message may be less impactful.
- Who is the letter from? Some couples choose to co-author their legacy letter, while others may choose to write individually. Collaborating may require compromising on the messages to prioritize and a co-written letter will likely have a different tone than one with a single author.
2. Focus the message.
Legacy letters are an intensely personal practice and there is no one-size-fits-all template.
The following questions and considerations can help with articulating the personal aspects of a legacy and visions for the future.
- Core values. How have these values translated into daily actions in your life? Why are they important to you? Specific examples can help illustrate lived principles and the values you hope loved ones will carry forward in their own lives.
- Major achievements. Consider reflecting on highly influential accomplishments. What makes these achievements significant personally? Are there any goals or aspirations that are essential for loved ones to pursue? Highlighting specific milestones can guide and inspire them as they plan for their future.
- Life lessons. Formative learnings can influence the trajectory of an individual’s life. Are there any insights that would have been beneficial earlier in life? Consider offering advice based on lived experiences, missed opportunities, and major goals.
- Legacy. Think about the impact, messages, and memories that will stay with loved ones. Are there aspects or information they don’t know yet, but should?
- Wealth and its meaning. Consider reflecting on wealth, including financial, emotional, and relational aspects. How does/can this personal definition translate to loved ones?
- Future aspirations. Legacy building is a life-long effort and bringing loved ones in on the vision can help them pick up the mantle and continue toward a shared goal for the future. What are your aspirations for your family’s future?
- Encouragement and advice. Think about words of encouragement and guidance that could resonate with loved ones. Providing any additional advice can help them on their own paths.
While legacy letters are not legally binding documents, they should align with provisions in the will, trusts, and other legal estate planning documents. Any contrary information could create potential grounds for a contest. An estate planning attorney can review a drafted legacy letter to ensure there are no conflicts with legal documents.
3. Share the letter.
Sharing a legacy letter is just as personal a process as writing one. The best approach will depend on family dynamics and the letter’s intentions.
- Consider the timing and location for this conversation, selecting a moment when loved ones are likely to be receptive and at ease, and a place that holds sentimental value and/or is a comfortable, private space.
- Determine whether sharing the letter individually, for personalized, intimate conversations, or in a group setting, to foster unity, makes the most sense for everyone involved.
- Sharing the document in advance or explaining the purpose of the conversation can give loved ones time to process and come to the meeting emotionally and mentally prepared.
Families may benefit from receiving and discussing the legacy letter in advance, allowing time for deeper conversations around the letter’s contents.
Conclusion
Keeping these considerations top of mind throughout the legacy letter process can help to focus the message and ensure the right audience receives the right information in the right way.
For more information, the Goldman Sachs Family Office has created a number of resources to guide individuals through the legacy planning process, including the drafting of legacy letters. For access to these materials, please contact your Goldman Sachs representative.
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