Talking with your parents about their estate plans can be difficult. While this topic may be uncomfortable, this necessary conversation can be the beginning of creating a plan which will give them peace of mind about the future and honor their wishes. Here is some information about discussing estate planning with parents:
Parent-child relationships can be complicated even when the child becomes an adult. Further discussing money is considered inappropriate in some family environments. All of that being said, you will need to get past your discomfort with the subject to help your parents find the right solutions for their estates. Before approaching them, take time to organize your thoughts and mentally prepare.
A good place to begin is by asking to sit down with them somewhere private and comfortable. Start the conversation from a place of loving concern about their plans for the future. Presenting your involvement from a place of wanting to help them, may be better received than an approach where you appear to be telling them what to do.
It will be important that you ask your parents about any planning they may have already done and get their input about what tasks remain. Another aspect of the conversation should concern your parent’s final wishes regarding not only their financial accounts but also personal and real property. It may be that your mother has always wanted her jewelry to go to your daughter or that your parents want you to inherit the family cottage. By knowing what they want you can help them in their planning for the future and ensure that the legal aspects of their wishes are also in place. To that end, offering to assist your parents in finding an estate planning attorney will be a positive step. By involving an estate planning attorney, you can step away from the role of creating your parent’s plan and place that task in the hands of a neutral expert who is equipped to advise them concerning their estate.
Having this conversation can bring up a host of painful emotions. However, by helping your parents make sure that their estate is in order and their final wishes known, you will be doing a great deal to help them the achieve peace of mind that comes with knowing that these important matters have been covered.
A properly prepared estate plan will help make sure all of your parent’s interest and final wishes are protected. Our office has the knowledge and experience you need to help your family fully plan for their estate. Please contact us online or by phone if we may be of assistance.