How To Talk To Your Family About Your Estate Plan

Talking about financial matters, end-of-life options and your eventual death is difficult, but especially with the ones closest to you. Your loved ones may not want to hear it, but they need to know what will happen after you die. 
Giving your loves ones an explanation of what you intend to do and why before your death will guarantee that they aren't left unprepared to handle fulfilling your last wishes. This also may help avoid hard feelings about inheritance issues.    
 
When planning your estate you will need to select family members or close friends for some very important assignments--these roles are a serious commitment. Check with your family members to see whether they are comfortable accepting these roles, as needed: 

  • Guardian of minor children
  • Agents in Powers of attorney
  • Executor
  • Heirs of complex assets  

But how do you actually sit down with your agent, guardian, executor or heirs and explain what's in your estate plan? Like most crucial family conversations, focus on values and relationships. Consider the relationship you have with each family member or friend you have selected to be apart of you estate plan and it's easier to see a path forward. There is also the option of leaving a Letter of Instruction to be distributed after death to expand on and explain the desires of your estate.
 

All material in this newsletter except the comic is Copyright © 2019 by Nancy A. Roberson. All rights reserved.