Creating your estate plan is a major task, and it’s one that has many different facets. One that some people neglect is telling their loved ones about the contents of the estate plan once it’s set.
Talking to your loved ones about the estate plan might not be something you’re looking forward to doing, but it’s something you should consider. If you opt to take this step, it’s best to be prepared to do so.
Set the meeting at an appropriate time
Set the meeting with your loved ones at a time when you have time to have the discussion without rushing. Because this can be an emotional conversation, you should ensure that you choose a private location.
Be concise but compassionate
Estate plans can contain a lot of information, and that can be overwhelming. It’s important to give them the information they need, but that might not mean that you have to go through the estate plan line by line. Hearing the plans for after your death can be difficult for them, so remember to remain compassionate as you provide the information.
Prepare to answer questions
Your loved ones may have several questions, so be prepared to answer those. It’s best to give them clear answers that are based on the contents of your estate plan.
It’s a good idea to have your estate plan written out when you speak to your loved ones. This enables you to have it to refer to as you tell them what the plan contains. Working with someone familiar with these matters can help you to get everything set up properly. Once you have it all set, remember that you need to review it periodically to ensure it still reflects your wishes.