The holidays are a time of giving, spending quality time, and sharing updates with your loved ones. While discussing your estate plan may not be at the forefront of your mind, the holidays provide an opportunity for you to share your plans with your loved ones. We know this can be a challenging conversation to have, however, which is why we want to share some of the benefits of discussing your estate plan with your loved ones this holiday season.
- Help avoid family conflict.
Lack of clear communication about your estate plan can lead to added stress for your loved ones during an already difficult time. Unfortunately, this can lead to conflict between family members, as they struggle to interpret and determine your wishes after your incapacity or passing. Taking the time to share the details of your plans with your loved ones can help ease some of their worries and may help take some of the pressure from your loved ones when you are no longer here.
- Share your legacy and pass on family values.
One of the best things about creating an estate plan is the ability it provides you to pass on cherished family values and leave a legacy for your loved ones that you are proud of. Accomplishing this is no small feat, so we encourage you to share your vision and your thought process behind each decision you have made while you still have the opportunity to do so. This can help your loved ones feel more connected to your wishes and plans. Further, if any of your loved ones have concerns about your planning documents, you can attempt to resolve them.
- Include your loved ones in the planning process.
While your estate plan is your own private creation, it is important to talk through the contents of your plan with your beneficiaries and update them as changes are made. The key is to be as transparent as possible. This will allow your loved ones to feel included in the planning process and may help them feel more comfortable asking questions or voicing any concerns. Ultimately, your loved ones are more likely to have a clear idea of your wishes if you shared your thoughts and plans with them ahead of time.
These are just a few of the benefits of discussing your estate plan with your loved ones. If you have questions about anything raised here, or if you are ready to discuss your estate plan with your loved ones but are unsure how to get started, do not wait to schedule an appointment with our office.