It’s not easy to think about or talk about what happens after you die or planning for something that seems so far off. Your estate plan can and should comfort your family so they know what to do when the worst happens. This only comes easier if you discuss your estate plan with your loved ones well before they need to take any action. With the holidays coming up, now is the best time to let your family know your plans and ensure they are taken care of.
So often we see cases in which a loved one has passed or an emergency happens and their family is unprepared. Your estate plan can comfort your family in a time of grief so they know what to do, what you expect, and what your wishes for them are. Delaying putting together your estate plan or waiting to talk to your family about your plan, can have detrimental effects on the goals you have set for your family. Planning for the end of your life isn’t an easy topic to think about or discuss, but taking the time to plan and communicate your wishes to your loved ones will only provide comfort during a trying time.
How Your Estate Plan Can Comfort Your Family
They’ll Know They’re Taken Care Of
While it may not be easy to discuss financial matters with your family, this is something that can be crucial for your loved ones in case of an emergency. If you are providing for your family, letting them know aspects of your estate plan that pertain to their financial future can be a huge comfort to them. Maybe you’re paying for college, a wedding, or any other facets of your children’s or loved ones’ lives, letting them know they’d still be supported after you’re gone can ease their minds.
They’ll Know What To Do
In case of an emergency, or if the death was expected, your estate plan can comfort your family by having a plan in place so they know what to do. Talking to your loved ones about your estate plan will help them through a time of stress and grief as they will have the tools to make sure your affairs are taken care of. Tell your family where your documents are, where your wealth inventory is, where your list of account information and passwords are, who would be in charge, etc. Knowing all of this ahead of time keeps transitions and emergencies able to play out as smoothly as possible.
They’ll Know Your Wishes for Them
Telling your family ahead of time about your financial goals and goals for your family can help ease tensions when the time comes to administer your estate. You can clearly lay out what your estate plan entails and how your assets will be handled. This is an important time to talk about any personal possessions you’re leaving to certain people. It’s up to you to decide what to disclose to your loved ones, but make sure you give them time to ask questions. If they know your intentions well in advance, you can avoid conflicts down the road.
While it can be triggering to think about the end of your life, and for your loved ones to think about losing you, this conversation should provide comfort knowing they will be taken care of when you are gone and that there is a plan for a time when they may feel lost. If you’ve taken the steps to create an estate plan, no matter how scary it is, let your loved ones know your plans and what your hopes are for them when you are no longer here. We can help you create the best plan that provides both peace of mind and a smooth transition of your assets.
We can help you go through your plan and make a list of what to discuss. If you need an estate plan or need to update an existing plan, contact us for your free initial consultation. There’s no cost to seeing if we are the right fit for you and your family.
Sign up for our newsletter to receive business updates and estate planning tips right to your inbox!
Like us on Facebook to keep up with new blog posts and daily tips!
Disclaimer: This article is intended to serve as a general summary of the issues outlined therein. While this article may include general guidance, it is not intended as, nor is a substitute for, qualified legal advice. Your review or receipt of this article by Lexern Law Offices, Ltd. (the “LLG”) or any of its attorneys does not create an attorney-client relationship between you and the LLG. The opinions expressed in this article are those of the authors of the article and does not reflect the opinion of the LLG.