Drafting an estate plan can be emotional. It’s one of the reasons some people procrastinate doing it, as it’s not easy planning for death or incapacitation. Nonetheless, you can manage the emotional side of estate planning and, in turn, protect your legacy and loved ones.
Here is how you can deal with the emotions of estate planning:
Focus on the primary purposes of estate planning
The documents you draft when estate planning do more than plan for your death or incapacitation. Your will allows you to distribute your assets according to your chosen criteria. With a guardianship designation, you can name someone who will raise your minor when you can’t.
An advance directive allows you to give instructions about your future medical care and treatment and choose a representative to make healthcare decisions on your behalf if you become incapacitated. A power of attorney, another form of advance directive, lets you name someone to handle financial matters, and so forth.
Focusing on how your estate plan will protect you and your loved ones can make it more manageable to draft one.
Start the discussions early
Your family members feeling they are in the dark or you not knowing how they will respond to your choices can intensify the emotions you may already be going through. Thus, consider introducing estate planning topics earlier, if possible, when your children are younger. Make it a habit to discuss finances and the future. This way, it can be easier to introduce estate planning topics.
If your children are already adults, you can introduce estate planning topics slowly. With time, your family should be ready to have more complex conversations.
It’s normal to go through different emotions when creating an estate plan. Legal guidance can help you navigate every step, making your work easier.