Many people think that they can forget about their estate plan once they have it made. They don’t realize that they may have to take the time to go over it with their adult children. Conversations about estate plans cover topics like wills, trusts, medical wishes, end-of-life planning and inheritances, all of which can feel uncomfortable.
Even though it might not be the most pleasant conversation, letting your adult children know what to expect is still a good idea. This gives them a chance to ask questions about your plan and provides you with the opportunity to explain anything you think they may need to know.
What should you talk about?
You don’t necessarily have to go over every detail that’s in the estate plan. Instead, you can touch on the basics, such as who will handle your finances and who will make medical decisions for you. This is also a good time to let them know where they can find your important documents, which can save them considerable time and effort after you pass away.
When should you talk to them?
These are private conversations that shouldn’t be rushed. Because of this, it’s a good idea to talk to them somewhere that everyone can feel open and at a time when there’s not anything pressing that will make anyone feel like they have to hurry. Be sure to leave time for your family members to ask questions or get clarifications if they need to.
It’s a good idea to go into this discussion with the estate plan in hand and an idea of what you want to discuss. Working with someone familiar with these matters may be beneficial, so they can help you to ensure you have everything covered.