Estate planning is something that one must do long before it’s actually needed. Unfortunately, many people in California wait until it’s too late to have any kind of conversation about their estate plan with their loved ones. This can lead to a lot of confusion and conflict after they die. However, if you’ve been contemplating talking to your loved ones about your estate plans, here’s how you can go through with it.
Steps to talking to your family about your estate plan
Create the right tone. You need to set a relatively calm yet serious environment to talk about your estate plans to your children. An estate plan is a sensitive matter, but still, you want your family members to be receptive to every important detail you will address. During the conversation, encourage them to share their thoughts, opinions, and worries so that you can tackle any issues earlier, making sure everyone is on the same page.
Ensure that they understand what an estate plan is. Your family needs to understand the estate planning basics before you tell them your wishes and how you want them to be executed after your passing. Let them know about your instructions on guardianship when you die, your financial power of attorney, and provisions for medical care.
Keep the conversation going. The subsequent conversations will get easier once you start talking about estate planning to your loved ones. And since you can’t address any concerns or issues in one sitting, you should encourage your family members to keep talking about your estate plans.
Why is this important
Your family members will be responsible for carrying out your wishes after you die. If you do not have an estate plan, your loved ones will need to go to court in order to get permission to distribute your assets and property. This can be a lengthy and expensive process, and it is something that you can avoid by creating an estate plan.
Talking to your family about your estate plan can be difficult, but it needs to be done. If you haven’t started the conversations yet, you should do it now, before it’s too late.