You put time, effort and money into your estate. You also put the same amount of care into your estate plan and all that goes along with it. But when it comes time to tell your family, are you ready?
Many people struggle to talk to their families about their estate plan. In particular, they struggle to discuss their will. But how can you do it anyway?
Why are you afraid to discuss your will?
The Guardian discusses what to do if you are afraid to discuss your will with your family. First, identify where the fear is coming from. For some, discussions of wills and estate plans highlight one’s mortality. This is difficult both for you and your children and loved ones.
Emotionally charged conversations like this can lead to disagreement among family members. For these reasons, you may feel hesitant to bring it up in the first place.
But discussing your will allows you to clearly communicate your wishes to your loved ones. This helps you smooth over any potential misunderstandings before they happen. It allows the transference of assets and estate to go seamlessly when the time comes. It cuts down on the surprises – both negative and positive – that they may face while also dealing with their grief.
How do you tackle the subject?
So how can you do it? First, set aside a specific time to hold the discussion. No one wants a sudden talk about estate plans and wills. You do not want to rush through the discussion either, so you should choose a time where everyone is free for at least a couple of hours.
Before your talk, outline what points you will cover. Going into the discussion knowing what to expect may help your loved ones out. Plan what you will say in advance. Be prepared for emotional reactions. Finally, understand that difficult conversations now will save your loved ones trouble later.