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Talking to your loved ones about your estate plan

On Behalf of | Jan 6, 2022 | Estate Planning

Discussing your finances with your loved ones may feel uncomfortable and counterintuitive. When it comes to your estate plan, you may anticipate objections and hurt feelings.

While it might be challenging to decide on the right time to talk to your loved ones about your estate plan, it can simplify the probate process when they know what to expect.

Here’s what you should keep in mind as you talk to your loved ones about your estate plan.

Make the conversation comfortable

The last thing you or your loved ones want is a conversation about your estate plan that sounds like a confrontation. No one has done anything wrong; it is simply a conversation to give information.

While talking to several people at once might be simpler, it could make the situation more likely to lead to conflict. You should try to speak to your primary beneficiaries individually, so they do not feel pressure to respond a certain way from other loved ones.

Be prepared for “why?”

For better or worse, most family members will have an idea regarding what you will leave to whom in the back of their heads. When your plan differs from their expectation, they might be caught off guard.

You will likely have a family member ask about specific assets. If you get questions like these, remember, you do not have to negotiate or give reasons. Your purpose should be to inform.

Telling your friends and family what they will receive from your estate plan can help them through the probate process while avoiding disputes about your intentions in your will.