Journal Entry for February 15, 2026
Therefore, I tell you, do not worry about your life,
or what you will eat or drink, or about your body,
what you will wear.... Can any one of you by
worrying add a single hour to your life?
---Matthew 6:25, 27
The Difference Between a Will or a Trust
A Will is often simpler and less expensive for the individual(s), but more expensive, cumbersome, and expensive for heirs. A Will does not cover the possibility of incapacity, nor does it protect sensitive information you prefer to keep private.
The Trust is more complex and is more costly. The reason is because they often result in less work and less expense for the beneficiaries. A Trust should cover circumstances the individual has no control over, such as a disability and/or incapacity, whether temporary or permanent. They may be kept private.
Lord, give me the strength to be calm
and to trust that You are in control, amen.
Traditional estate plans focus almost exclusively on transferring assets, reducing taxes, and minimizing administrative costs. More comprehensive estate plans add ethical wills, incentive trusts, and involve your children in the process.
Ethical Will
An Ethical Will is a non-legal document that allows a person to share his or her personal values, life lessons, family history, family traditions, expectations for future, dreams and hopes, as well as religious and spiritual ideas. It may including include anything else considered important for that person to convey to family and friends. An Ethical Will may include:
- Individual and Family health history. This is important information for descendants for potential health risks.
- May be written at various stages in life and may be amended any time throughout an individual's lifetime.
Ethical Wills are a tradition that goes back to Old and New Testaments of the Bible. Personal stories are particularly effective tools for passing on valuable information and helpful guidance to others.
Ethical Wills have been written by couples who are engaged to be married, men and women who are welcoming newborns into their lives, families that are growing in size, middle-aged singles, and married couples, as well as individual facing terminal or life-threatening illnesses. If you have not created an ethical will, the best time to start is when you are health and of sound mind.
An Ethical Will gives your heirs an opportunity to remember what your values were in life and how you want to be remembered. This is a good time to show your appreciation to your heirs; by letting them know how much they mean to you.
Source: Leigh Hilton, Estate Planning and Elder Law Attorney, Denton, Texas
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