For many adults, thinking about creating an estate plan is something that seems uncomfortable. Once the plan is done, there comes another step that they might not have prepared for—talking to their loved ones about their estate plan.
Having a discussion with your loved ones now gives you the chance to let them know about your plan. In some cases, it’s a chance for you to explain your reasoning behind the decisions you made. This can help to prevent potential issues from coming up after you pass away.
Pick the best time to talk to them
Choose a calm and distraction-free time to talk to your loved ones. You should let your family members know that this is the topic you’re going to discuss so they can prepare themselves. Be sure you let them know that you’re doing this because you care for them and that you want to ease any tensions that might arise.
Be concise about your wishes
Clear communication prevents confusion down the road. Let people named in your estate plan know exactly where they’re included. This includes telling those who are the financial power of attorney or healthcare power of attorney.
You don’t have to share every tiny detail of the estate plan. Instead, take this time to address anything that might come as a surprise or a dispute. Be honest and respectful of your loved ones’ emotions.
Plan to answer questions
Your loved ones may have questions about your estate plan. Make sure you leave time for those questions and prepare to answer some difficult questions.
It may be beneficial to have the estate plan handy when you’re having this discussion with your loved ones. Working with someone familiar with these matters may be beneficial if you’re in this position.
