The holidays are a merry time for family and close friends to come together and celebrate. However, having everyone together at the same time and place can also be a good time for some uncomfortable discussions.
No one wants to necessarily have the “estate plan talk” during this time, but it is important to speak with loved ones about your estate plans. Keeping everyone in the loop about your plans will save heartache and confusion later.
Which Topics Should I Include in My Estate Plans Discussion?
Having a structured meeting with your family and loved ones will help ease everyone’s concerns and ensure that you’re covering everything important. Make sure to speak about:
- What are the contents of my will? Once you and your estate planning attorney have drafted your will, it’s crucial that you share the details of your will with family members. Explain what property will be allocated to your beneficiaries, who your executor is (the person who will see that your terms are completed), and who the guardians will be for any of your minor children.
- Who will make your health care decisions? Once you are no longer able to make your own health care decisions, you will need someone to make those decisions for you. Share with your family if you have designated a health care proxy to fulfill this task. Go into detail on this person’s job duties. This can also be your durable power of attorney, who can be in charge of your medical care decisions as well as any financial choices once you are incapacitated.
- Who are your beneficiaries? Besides knowing your executor and guardian(s), you should also share who else will be involved in your estate. This conversation might extend past your immediate household, but it’s still something important to address. Make sure your children clearly know your plans and wishes, as well as any grandchildren, nieces, nephews or cousins who are somehow involved in attaining your property.
Need More Help? Call Our Estate Planning Attorneys Today
Knowing what to include in your estate plans can be difficult, and you may be confused on how to include certain family members. If you have more questions about your estate plans, don’t hesitate to call the Law Office of Skipton Reynolds, LLC today for more information.