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Article: Ethical wills catch on as part of estate planning; Some clients want to pass on more than money.(News)
- Article from:
- Investment News
- Article date:
- April 12, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Joanna Sabatini
When it comes to estate planning, some financial advisers are talking to clients about passing on more than just material wealth to their heirs. Those advisers say ethical wills are becoming more popular among those who want to share their guiding principles or express hopes for surviving family members.
"We go through the formal estate-planning process, work with the client's attorneys and [with] trust accountants, but there is always something extra,'' said Hillel Katzeff, a financial adviser with HK Financial Inc. in San Diego.
"Obviously, clients want to pass on their legacy, but it's not just the money. Ethical ...