What if your parents haven’t done their estate planning yet?

On Behalf of | Mar 14, 2022 | Estate Planning |

As your parents have been getting older, you started to wonder about their estate planning. Maybe they’ve never mentioned it to you. Maybe they’ve told you that they’re going to get to it later. Either way, you don’t think they’ve done any planning yet, and it makes you nervous. 

At the same time, however, you’re not really sure how to bring this up with your parents. You don’t want them to feel like you’re already planning for the end of their life or that you are obsessed with the assets that you’re going to inherit. What can you say to them to show that you really just care about them, and you want to make sure that they have a useful and comprehensive plan in place long before they need it? 

Offer to help if you can 

One thing you can do is simply offer to help your parents. Maybe they’re not sure how to get in touch with the legal team to help them make the plan. Maybe they don’t know what documents they need to have. It can all feel overwhelming and a lot of people keep putting it off because they don’t know how to start. If they know that they have someone else who’s there to help, that can be the catalyst that gets them going. 

This is also why it’s important to do your own estate planning first. If you have just written a will, you can tell them about the steps that you took. If you’ve decided to use a trust, you can tell them why you made that decision. The more you know about this process, the more you can bring it up with your parents to show that you just want them to have the same type of estate plan that you already made for yourself. Then you feel like a team, rather than risking any sort of disagreement. 

Estate planning can be complicated, but it pays to get started early and to know about all of the steps you can take.