Bringing up sensitive estate topics with your parents
Although it’s not always the easiest conversation to have, there are excellent reasons adult children in Bluffton, South Carolina, should talk to their parents about estate planning. Starting the conversation can give family members peace of mind.
How to start the conversation
Adult children might feel uncomfortable talking to their parents about estate planning because they don’t want to come off as greedy or give their parents the impression that they are looking forward to inheriting something after they die. A straightforward approach could be discussing basic things like wills and powers of attorney. Asking questions like how long ago the documents were made, if they still reflect the parent’s wishes, where the documents can be found, and getting the contacts of lawyers and accountants are great ways to start the conversation.
From there, it could be good to discuss things such as who has been named power of attorney or who the executor of the will is. Both roles consume time and can be emotionally draining.
Determining your role in your parent’s estate planning
The next step is for a child to discuss their role in their parent’s estate planning. For example, have they been named as the executor? If so, they will need to get a list of the assets their parents own and outstanding debts, including items that may have no paper trail and can only be accessed online.
Estate planning conversations should be a family affair with anyone impacted by the plan involved. This makes things a lot easier when the time comes if everyone understands in advance what to expect from the estate plan.
It’s not easy to think about the long-term hospitalization or death of your loved ones. However, taking the time to have the hard conversations now can give you the peace of mind that comes from knowing that your parent’s wishes will be met.