Communicating with Your Family about Your Estate Plan (and Where They Fit In)

by | Feb 2, 2021

Communicating with Your Family about Your Estate Plan (and Where They Fit In) – Part 3 of 3

By: Cristin Gerczak, Esq.

February 2, 2021

Welcome back to the third post in our series on providing a fair inheritance. The first post covered what “fairness” means in estate planning and the various things worth considering when thinking about how you want to divide up your assets. The second post went into detail on the ways that your relationship status can affect your decisions. Today, we’re going to examine the importance of family communication.

How to Talk to Your Family Members about Their Inheritance

It probably goes without saying that family communication is important in estate planning. After you have worked through the details and executed a solid estate plan tailored to your needs and goals, it is important to have an open discussion regarding those documents with your loved ones.

There are three common ways to have meaningful conversations with family members. The first is a one-on-one private conversation. Another way is to hold a family meeting. The last is to use a family counselor. This one is particularly useful if you believe tensions could become high with this type of conversation. And, of course, you’re not limited to any one course. 

What Do People Tell Their Family Members about Estate Planning Documents?

The chart below represents the results of a survey conducted on sharing the details of the location of estate planning documents.      

This may be a tough situation to discuss, but it is a necessary one. Moreover, it will provide your family with understanding and you with peace of mind. At the very minimum, it is important to share the location of your estate planning documents and the contact information for your estate planning attorney. 

Want more tips, tricks, and wisdom like this? Get in touch with an experienced estate planning attorney.  

Author:
Cristin Gerczak, Esq.
Haimo Law
Strategic Planning With Purpose®
Email: cgerczak@haimolaw.com

YouTube: http://www.youtube.com/user/haimolawtv

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