We are quickly approaching the holiday season and this means that you will soon be joined by your loved ones for any planned festivities. Whether you’ve already executed your estate plan or are considering taking those first steps toward creating your estate plan, the holidays are a great time to speak to your loved ones about estate planning. Below are a few tips on ways to get the conversation started.
1. Select the Proper Place and Time
At The Hill Law Group we view estate planning as a gift to your loved ones. Many people are reluctant to speak about estate planning with loved ones because they believe it is a sad topic. So, it is important to identify a proper place and time to speak to your loved ones. One option, is for you to casually speak with about estate planning over dinner, or when your loved ones are united in a common place. This will allow for you to have the conversation once. Otherwise, you can share it with your family members individually if you believe that is a better option. Ultimately, you know what works best for your family. This conversation may cause a little emotion, but it’s always best to refer to it as a gift and ensure your loved ones that this was done for them as much as it was for you. Now, what exactly should you share?
2. Understand Your Goals When Sharing
When speaking to your loved ones about your estate plan, it is not necessary to share what is contained in those plans, unless you’d like to. If you believe sharing your estate plan may cause confusion or tension you may want to limit what you share. Sharing that you have an estate plan is more than enough. You may want to share where the estate plan is located with those people who you have listed to execute the plan, this is so that they can access it in the event of an emergency or once you have passed away.
If you do not have an estate plan but are considering creating one, this conversation may be a little different. You may want to share that you want to create an estate plan. This may be a good time to map out some goals and objectives with your family, or you may want to put them on notice that a plan will be created soon. Getting the conversation going can even encourage your loved to begin planning as well.
3. Advise Your Loved Ones to Start Planning Alongside Yourself
An estate plan is something that everyone should have. You should be able to designate your life’s work to whomever you want. With this being said, while you may have already created a plan or may still be in the process of creating one, you should encourage your loved ones to do the same while you have the conversation. Why? Just like you’re giving a gift to them, you’re also saving them from the tedious process of having to go to court to access all of your assets, and they in turn will do the same for subsequent generations.
Here at The Hill Law Group, we’d be more than happy to get you started on your gift giving for the holiday season. Please reach out to us for more information at info@thehilllawgroup.com.
