It is never easy to discuss certain aspects of the future, such as one’s own mortality and what will happen after passing. Most people are uncomfortable with discussing their own deaths or the possibility of experiencing a medical emergency that could leave them incapacitated. However, these are important conversations, especially with older family members. Adults should have estate planning discussions with their aging parents.
An awkward but important conversation
There are many reasons to consider discussing estate planning with loved ones. Knowing what’s in a loved one’s plans can reduce the chance of heirs and beneficiaries being surprised or confused by the terms of the plans. It can also reduce the chance of conflicts between heirs if they disagree on how to interpret the terms or the motivation behind certain decisions made by the decedent.
Although this can be a difficult conversation, it is an important one. An adult child can approach this topic by choosing the right time and being thoughtful about the location of the discussion. This is also a good opportunity to discuss wishes and preferences, as well as ask questions about anything that could be confusing when implementing the plans.
Professional guidance is key
There is no single perfect solution to estate planning. To have better conversations about this sensitive matter and create meaningful solutions to concerns, it is beneficial to have the guidance of an experienced attorney. An assessment of an estate, one’s objectives for the future and other details can provide insight regarding how to create meaningful plans that will provide protection and security.