An estate plan affects more than just you. It involves the whole family. The first part of making sure that you are fully prepared and have an estate plan is to create the will, trust and other necessary documents. The next step is making sure that all affected parties are aware that it exists. After all, these are the people who will be ensuring that your plan is executed just as you want it to be handled, so it only seems natural that you would discuss your decisions with these individuals while you are still here, right? Be prepared to get some push-back from your loved ones once you sit them down. Death is an uncomfortable subject, but it is an inevitable one, at that. Several items need to be discussed, however:
- Who is your personal representative or trustee? Do not surprise the loved ones you have chosen to handle your estate with this appointment. Ensure that they are aware of your trust in them, and also ensure that they are aware of your wishes for your assets.
- Who will be the guardian for your children? You may not want to have this conversation with everyone, but at least speak with the individuals you have chosen to be guardian for your children in the event of your passing.
- Your funeral wishes: Make sure your loved ones are aware of what you want done with your body and what funeral wishes you have, if any.
- Where all of your important documents are located: Make sure they are aware of where to find the will or trust, where your documents are located and the names of any important parties, such as attorneys or financial planners, as well as their contact information.
- Your healthcare wishes: This conversation is easily the most uncomfortable but also the most important. If you have a specific wish regarding “do not resuscitate” clauses and what should happen if you are incapacitated, make 100 percent sure that your loved ones are aware. This conversation needs to happen no matter how uncomfortable the topic. It will save them pain in the long run from having to make these decisions for you. If you have a living will, make sure they are aware of what your end of life decisions are. The last thing you want is for them to discover these wishes for the first time when you are sick or near death.
So how do you go about setting up this meeting? It is up to you and how you feel it is best handled. Should you send an evite or spring it on the family at a gathering? Probably not. Make sure the forum is one where everyone is capable of being serious and prepared to have this conversation. Avoid settings where children are present or where alcohol is being consumed. Avoid emotional situations where emotions are already at a high, and, make sure your loved ones are aware that this topic is going to be discussed. If you want open minds, make sure you give them enough preparation.
At Sullivan Law, we offer estate planning packages at a flat and reasonable fee. We also offer free consultations to discuss what your needs are, what you would like to do, and how that can be best accomplished. Everyone’s needs are different, and your wishes should be clearly listed and understood. Call us at 248-917-1351 or email at asullivan@sullivanlawonline.com to schedule your free consultation today. We look forward to working with you!