You’re getting older, and one of the things you want to do is make sure you have a good estate plan in place. You want to be sure that the people you assign as your powers of attorney or executor are able to take on the roles and carry them out successfully.
You also know that you have enough children and family that there could be disputes, so you want to be sure that they are aware of the way you want to distribute your assets. You’d rather make sure they can make their complaints heard now than cause problems later.
Is it reasonable to talk to your family about estate planning?
It can be helpful to get your family involved in estate planning, but you need to keep in mind that your decisions are final. You are taking care of your estate, and they don’t get the final say in what happens to your assets.
If you want to talk to your family about your decisions, one good idea is to work with your attorney first to come up with an estate plan that you approve of. Then, if you would like to inform others that you’ve designated them as powers of attorney, health care advocates or others who could support you later in life, you can. If they bring up issues with those roles, like not having time to be a financial power of attorney, for example, you should be prepared to assign a different person in the estate plan.
Talking to your family about the distribution of assets now could help avoid conflicts later
In terms of the distribution of your assets, talking to your beneficiaries now could help. Consider having them all get together so there is an understanding about who you want to have which items. Explain your reasoning to everyone, so there are no misunderstandings.
If there are issues that come up, you may be able to adjust your estate plan if you think your beneficiaries had good points. Otherwise, you and your attorney will work together to make sure your estate plan is iron-clad and protects your final wishes.