The topic of estate planning surfaces many emotions for most people in Florida ranging from feeling overwhelmed, to optimistic to confused. Because of the breadth of creating an estate plan, some people avoid the topic even though they have a real need for discussing it.
Children with aging parents may experience a growing concern about the protection, comfort and satisfaction of their parents and desire to talk about estate planning, but are unsure of where to begin.
Let’s talk about estate planning
A lot of the success of a focused and productive discussion about estate planning has to do with timing. Children who approach their concerns with respect and genuine care may find their efforts are much more successful than those who take an aggressive approach. Business Insider suggests that people make estate planning a family affair. Families can identify each other’s roles and delegate responsibilities to ensure that the execution of an estate plan goes as intended.
People who take the family approach to estate planning can have the confidence that everyone understands how the plan will function, its beneficiaries and its conditions. As such, well-informed families may experience less risk of feuding after their family member’s death.
Communication is paramount
Part of establishing a thorough estate plan is for people to communicate effectively and frequently with their family members. Money Crashers reminds people that an estate plan is not nearly as effective if family members have no idea where to find and how to access critical documents and information. Parents should inform their children of the location of important information so it can be easily accessed when the time comes to use the estate plan.