By Rusty Russell, CFP®, CKA®, CWS®, CEPA®
Most of the business owners I work with have spent years building something of value through hard work and a genuine care for the people around them. For a lot of them, their faith runs right through the middle of it too, whether or not it ever shows up on paper.
So when we start talking about what happens after they're gone, the conversation naturally turns to documents like wills, trusts, and succession plans. That is exactly where it should start. Those documents are essential, and getting them right matters more than almost anything else we do together.
One thing I’ve seen time and again is that those documents don't tell the whole story. They can direct the transfer a business. They can direct where assets go. What they can't do is explain why. They can't carry your voice to the next generation.
That's where a letter of wishes comes in.
A letter of wishes isn't a legal document, and it doesn't carry legal weight the way a will or a trust does. It's something different and personal. It sits alongside your estate plan and fills in everything the legal language was never designed to convey. Why you structured things the way you did. What you hope for your children, not just financially, but in how they live and how they treat one another. Your encouragement toward generosity. Your vision for how the business should be run, or sold, or passed along, if that day comes.
I like to think of it as the place where wisdom meets testimony. Where your heart meets your legacy.
I've sat with clients who've built something that honors what they believe, and their biggest concern isn't whether the numbers will work out. It's whether the people they love will understand the why behind it all. A letter of wishes gives you the chance to answer that. In your own words, while you still can.
If you've spent years building a business, a family, a life around something bigger than yourself, don't leave the most important things unsaid. Let your final words be a blessing.
If you'd like help crafting a letter of wishes, one that reflects your values and your vision for what comes next, that's something we'd be honored to walk through with you.
To schedule a conversation, we'd welcome the opportunity to help you think through what your legacy should say, and how to make sure it says it clearly. Give us a call at 336-499-4999 or email us at Rusty@Covenant-WM.com, and we can start that conversation with you.