Despite feeling uncomfortable thinking about your death, you pushed through and write your estate plan. While that is cause for celebration, let your loved ones know about said plan.
Fidelity explains the importance of sharing the contents of your estate with friends and family and how to have the conversation. Help those who matter most to you know your desires regarding the end of your life.
Understanding the need for the conversation
So, why do you need to share your estate plan with friends and family? One reason is that anyone named as your will’s executor, your power of attorney or a guardian for your kids needs to know about your decision to choose him or her for the task. While you may feel the person is a perfect candidate, the individual could have a differing opinion. Discussing your estate plan prepares your chosen candidates and helps them understand what a specific designation entails.
Getting what you desire
Without knowing more about your will and other parts of your estate plan, your heirs, children, spouse and others may have no choice but to guess about your end-of-life decisions. You may want your investments or assets handled a different way after you pass, but you cannot expect your loved ones to know that without a doubt if you do not tell them. Death comes with several decisions regarding the deceased, and talking to your family about your estate can lessen their confusion, frustration, uncertainty and grief.
Staring the conversation
Regarding the actual conversation about your estate, have it in a comfortable setting during a regular family gathering, such as over the holidays. Speak plainly about your estate and your desires and give loved ones the chance to ask questions.
Do you feel you can have this conversation? Do not hesitate to ask for additional tips from a legal advocate.