Adult children often take the lead in helping parents with estate planning. Parents often need help with estate planning but do not want to ask family members for help. Discussing end-of-life plans and wills is difficult for family members.
Don’t delay a conversation
Families can dismiss their estate planning concerns because of a fear of offense. A good way of starting a conversation about estate planning is to find a news article on the subject. Delaying a discussion about their estate can mean a drawn-out probate process. Recommending an estate planner is a good entry point to the subject.
Set priorities
Once the subject of planning for the future is discussed, the next step is to set priorities. Getting all documents in place will reduce the work for family members. Making decisions about who will be involved in different parts of an estate is important. A family member needs to take the responsibility for healthcare decisions. Sickness and medical issues can limit the ability of a parent to make medical decisions.
Update a will
Dying intestate can lead to problems with probate. Parents usually want to provide an inheritance for their children and descendants. Putting the wishes of a parent on paper helps to speed the process of getting an inheritance to a loved one. The risk of a legal challenge is reduced by an up-to-date will.
Get some help
Planning an estate can seem like a lonely time. Reassure your parents they are not alone and help is available. Parents will ignore estate planning discussions because they do not want to upset their children.
Planning for the future needs to be done as a matter of urgency. Limiting the probate process helps get the inheritance to a family.