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What should adult children know about parents’ estate plans?

On Behalf of | Oct 6, 2023 | Estate Planning

Talking about the future and what will happen after you pass can be a difficult conversation to have with your children. Most people are hesitant to discuss what they may need if they become incapacitated or what they may want to happen to their property after their death. However, these discussions are important, and they can help a family prevent complicated matters in the future. 

It is important for parents to discuss their estate plans with their adult children. This knowledge can allow their heirs and beneficiaries to be stronger and more effective medical advocates for their parents. It will also lessen the chance that there will be a dispute among heirs regarding what should happen to personal property of the parents after their death.  

Sharing details and having honest discussions 

It can be difficult and emotional to discuss the future, especially when it means discussing end-of-life care and other sensitive matters. If you are a parent, you may be reluctant to talk about these things with your children because you want to keep your privacy, but there are critical issues of which your adult kids should be aware and understand. Some important things to consider include: 

  • If your kids know your wishes in case you need emergency medical care or during end-of-life stages, they can take immediate action on your behalf. 
  • By explaining your intentions, you can reduce the chance of disappointment or resentment over the terms of your estate plan. 
  • When the appropriate parties know and understand your plans, there will be a higher chance of a smooth transfer of assets after your death. 

Discussing the important elements of your estate plan with your adult kids is important, but that does not mean that you cannot keep some details private. This can be a healthy discussion about your intentions and objectives, and it can promote healthy communication among all family members. 

Creating a strong estate plan 

There is no one-size-fits-all solution to estate planning. If you are concerned about how to create the strongest possible plan for your individual needs or what elements to discuss with your children, you may benefit from seeking professional guidance regarding your legal options. This can provide you with the insight you need to make choices that will allow you to face your later years with confidence and peace of mind.