How to Speak to Your Parents About Estate Planning
It’s difficult for anyone confront his or her own mortality. It’s why having a discussion with your parents about getting their estate plans in order can be so difficult. We don’t want to admit that those we love will someday no longer be with us, and yet it’s important to confront this reality so our parents maintain total control over their estate and end-of-life care decisions.
The following are a few of the benefits of having an open and honest dialogue with your parents about estate planning:
- You can help to empower your parents, giving them the knowledge and tools they need to maintain control over their estate for the long term.
- You can help to ensure family values, traditions and keepsakes are passed on appropriately to the next generation(s).
- You can prepare both your parents and yourself for what would happen in the event they become incapacitated.
- Your actions may encourage other people in your family to develop a responsible estate plan of their own.
- You can help your parents take advantage of certain tax reduction strategies to help maximize the value of their estate.
Getting the conversation started is the hardest part of this process. Make sure you pick a positive, comfortable environment — waiting until a time of crisis might be too late, and your family members might not be emotionally ready to talk about such serious matters.
You should also make sure your parents know you are completely sincere in your desire to help them and that you have no selfish motivations. Finally, make sure your parents understand the importance of going over their estate and having a solid plan in place for the future.
If you would like further advice on how to work with members of your family on their estate planning needs, speak with a dedicated Tampa wills and trusts attorney at BaumannKangas Estate Law.