Why Talk to Your Family About Estate Plans & Tips for a Smooth Discussion
It’s not a topic that many of us like to think about, but estate planning is something that we all need to do. One of the most important steps in estate planning is talking to your family about it. This can be a difficult conversation, but it’s one that is worth having. By talking to your family about your estate plans, you can prevent conflict, answer questions, and ensure your legacy is preserved.
At Fricker Law Office, we help individuals and families craft customized estate plans that meet their needs now and into the future. We also support people with expert probate law services. Contact us today with questions and keep reading to learn more about talking to your family about estate planning.
Why talking to your family about your estate plan is so important:
You can help prevent family conflict.
When you die, your family will be grieving. If they are also fighting over your estate, it can make the grieving process even more difficult. By talking to your family about your estate plans, you can let them know what you want and why you made the decisions that you did. This can help reduce the chances of conflict after you’re gone.
You can answer questions.
Your family may have questions about your estate plans. By talking to them about it now, you can answer their questions and give them the information they need. This can help prevent misunderstandings and confusion later on.
You can ensure your legacy is carried out in a way that makes you proud.
Your estate is your legacy. It’s what you leave behind for your loved ones. By talking to your family about your estate plans, you can make sure that your legacy is carried out how you want it to be. You can ensure that your wishes are honored and that your loved ones are taken care of.
You can assign appropriate roles.
If you have a complex estate, you may need to assign different roles to different members of your family. Even a basic estate plan requires a personal representative to oversee the execution of the estate after you pass. You will also need to select a person or people to serve as the agent for your powers of attorney for healthcare and finances. It is critical that you speak with the people you choose to carry out these roles so they know what will be expected of them and what your wishes are. This can help prevent confusion and ensure that your estate is handled the way you want it to be.
You can help your family prepare in advance.
If you don’t talk to your family about your estate plans, they may not know what to do after you’re gone. Part of your conversation can be letting your family know where to find important documents and who to contact after you pass away. This can reduce their stress and help them make the decisions that need to be made.
Tips for talking to your family about estate planning:
Talk about it early and often.
The sooner you start talking to your family about your estate plans, the better. It’s never too early to start the conversation. And, you should continue to have the conversation as your plans change and evolve.
Be open and honest.
When you’re talking to your family about your estate plans, it’s essential to be open and honest. Let them know what you’re thinking and why you made the decisions that you did. This can help build trust and understanding.
Include everyone involved in the conversation.
Make sure to include everyone who is involved in your estate planning in the conversation. This includes your spouse, your children, and any other people who may hold important roles.
Write down your instructions and store them in a safe place.
Once you’ve made your decisions, it’s important to write them down. This will help ensure that your wishes are carried out the way you want them to be. Store the instructions in a safe place where people can access them. It’s also advisable to provide your estate planning attorney with a copy of all documentation and instructions.
Fricker Law Office is a Milwaukee and Wauwatosa-based law firm that specializes in probate and estate planning. If you have any questions about estate planning, or if you need assistance with probate, contact Fricker Law Office today. We’ll be happy to answer your questions and help you get started. Thanks for reading.
