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3 tips for telling loved ones about your estate plan

On Behalf of | Nov 27, 2023 | Estate Planning |

Creating your estate plan is one of the most important tasks you have as an adult. This enables you to let your loved ones know how you want your assets distributed after you die. It also provides them with information about what you want to happen if you become incapacitated.

While creating the plan might be challenging enough, some also find it just as challenging to have to tell their loved ones about the plan. There’s no rule that says you must do this, but it’s often preferred so everyone knows what to expect.

1: Choose a suitable time

Talking to loved ones about an estate plan isn’t something that should be done in a rushed manner. It’s typically best to choose a time when nobody has other things going. Find a quiet place so everyone involved can focus. It’s not necessary to talk to everyone at the same time. Some people prefer having one-on-one conversations since estate planning is such a personal matter.

2: Be compassionate but factual

Talking about estate plans will be difficult for some people because of the emotions involved. Always remain compassionate and recognize that people will handle the discussion in their own way. Always be factual about what’s in the estate plan, even if it’s not what the individual wants to hear.

3: Answer questions appropriately

Questions about the estate plan may come up. Be sure to take the time to answer those as well as possible. It’s typically best for heirs and beneficiaries to get those answers from the creator while they can instead of trying to decipher terms after the creator’s death.

Working with someone to get an estate plan together minimizes the risk of it having missing components or unclear information. Remember, a comprehensive estate plan benefits the creator and everyone else involved.