Estate Planning may not be top of mind during the busy holiday season. However, gathering with loved ones can be a good opportunity to discuss your estate plans with them. Having an open conversation can help avoid fights amongst your heirs. You can give some context to why you chose to take certain actions. And these conversations can help ensure your wishes are followed after you pass away.
Here are some tips that might make these conversations go just a little more smoothly:
- Have a clear vision before the conversation begins. It’s much less stressful and there’s less room for argument if you already know how you would like your assets distributed and who you want to help resolve your affairs.
- Consider the setting for this conversation. Pick a calm time when there aren’t a bunch of distractions. Try to include everyone who needs to know the details of your estate plan at once. This helps avoid one person thinking the others who heard first got preferential treatment.
- Make sure that those you’re assigning tasks to, like your Personal Representative (Executor/Executrix) or Power of Attorney, are willing to accept the jobs. During the estate planning process you’ll designate someone to be in charge of your medical and financial decisions if you’re unable to handle those tasks yourself.
- Explain what the inheritances will be. Don’t just talk about the big assets, like the house. Make sure that you also address family heirlooms and keepsakes in your discussion.
Ultimately, the main point of these conversations is to discuss the contents of your completed estate plan. None of these discussions will matter if you don’t actually complete your Will, Powers of Attorney and other documents. When you’re ready to start your estate planning process or if you need to update your prior estate planning documents, contact Cooney Law Offices today. We can help!