Have family conversations when doing estate planning

On Behalf of | Jun 24, 2020 | Estate Planning |

You do not have to do your estate planning alone. It’s something you can do with the rest of your family, as a joint effort that includes a lot of family conversations. 

After all, the plan you put in place is going to impact them in many ways. Why not give them a say in that and allow them to influence the plan? This is one of the best ways to avoid mistakes and help the process go smoothly. 

For instance, maybe you already know who you want to be the estate executor. You assume that they want to do it. But what if you have a conversation about it and they reveal that they’re just not comfortable with the idea? Perhaps it’s out of character for them. Perhaps you misread the situation. The exact reason why doesn’t matter as much as the fact that they don’t want the job and now you know in advance. 

You can also use these conversations to make it clear to them what they’re going to get. They may have expectations already, and those expectations may not be all that accurate. It’s important for you to set them straight or talk through what you think is the best course of action. If they learn these things after you pass away, it can lead to disputes. If they learn them in advance, they can just talk to you before you actually put the plan in place. 

At the end of the day, of course, it is your plan. Make sure you know what legal options you have and how to create the best estate plan for your family.