It’s wonderful that you have an estate plan in place, but you must also tell your children about it. Talking about death and finances are both difficult discussions and having both at once is even more difficult. Talking with your children now will prevent confusion and sibling fights later. In the past, adults didn’t discuss such things with their children, but with all that’s included, it’s important to find a way to talk to your kids about your estate plan.
An estate plan includes all documents that will help you retire and live comfortably into your end years and plans for taking care of the loved ones you left behind. It can include:
You spent many years building your estate plan and ensuring it all works together (coordinating your benefits). Now it’s time to talk to your children and tell them what to expect if something happens to you.
It may not be easy, but it needs to be done. Actually, talking to your children about your estate plan won’t be so hard if you’re prepared. We want to help by giving you some tips.
3 tips about talking to your kids about your estate plans:
It won’t be easy at first, but having an open discussion with your children regarding your estate plan is important. Answer all questions honestly, and let them be sad. But then end on a happy note, perhaps ice cream as a reward!
Having an experienced estate planning attorney on your side can also help in talking to your kids about your estate plan. We will make sure you have everything in order and understand each component of the plan. When you understand the plan, explaining it to your children is easier.
Call us for more information on setting up an estate plan that works. Contact one of our lawyers today and schedule an appointment at 630-864-5835. We will review all aspects of your plan and ensure you understand everything.
AREAS WE SERVE: DuPage, Kane, Lake and Will counties.