Immaterial Inheritance

Inheritance, noun, refers to the assets that an individual bequeaths to their loved ones after they pass away. An inheritance may contain cash, investments such as stocks or bonds, and other assets such as jewelry, automobiles, art, antiques, and real estate.

What if the inheritance we pass on to our children is more than the material possessions or the financial assets outlined in our trust? Shouldn’t it also include the legacy we leave and the examples we set?

“What you leave behind is not what is engraved in stone monuments, but what is woven into the lives of others.” ~ Pericles

In this way, inheritance is more than what we usually think about.

This is an interesting perspective with significant consequences. The inheritance we leave for our loved ones extends beyond the material things we’ve collected or the money in our bank accounts.

Our inheritance also includes how we live our lives, the examples we model, the time spent with our loved ones, and the character we develop.

No matter how many assets are contained in your trust, you can still pass on to your children, and grandchildren, a valuable inheritance by living a life of character and gratitude focused on the things that matter most.

This type of “immaterial” inheritance is more valuable in the long run than a “pile of stuff” or a dollar figure.

Unlike tangible assets, immaterial inheritance cannot be divided up and distributed among our family members. Instead, it is often passed down through informal means such as storytelling, mentoring, and shared experiences.

For example, if your grandmother taught you how to cook a signature family recipe, that knowledge would be considered part of your immaterial inheritance. Similarly, if your parents instilled in you a strong work ethic or a commitment to community service, those values would also be part of your immaterial inheritance.

I experienced this through observing the relationship my son, Ryan, had with his grandpa, my father. As you can see in the featured photo, those two were inseparable. One thing we can never get back is time, but the time spent and the memories can warm our hearts for a lifetime.

Understanding the concept of immaterial inheritance is important because it can help you appreciate the intangible assets that you have inherited from your family and ancestors. It can also help you to think about how you want to pass down your own knowledge, skills, and values to future generations.

Nothing can replace creating memories and family traditions.

Those are what will be remembered and carried on in future generations. if you have family, you will pass on an inheritance.

Immaterial inheritance is often overlooked. It is an important part of our family history and can have a significant impact on our lives.

By understanding the concept of immaterial inheritance, we can appreciate the intangible assets that we have inherited from our families and think about how we want to pass down our own knowledge, skills, and values to future generations.

Remember the gifts we can leave to our children extend far beyond material possessions. Be mindful about focusing on what’s most important.