Often, those who are interested in estate planning are elderly individuals who know that they need to get their affairs together quickly. However, there are also cases where the children of these individuals are worried that they haven’t done their estate planning, but the parents themselves have yet to begin.
If you find yourself in this position, you may be wondering what planning your parents have done, what goals they want to accomplish and what you should expect. But it can be difficult to bring up a topic like this. To help, here are a few key tips.
Do your own research first
If you know about the different documents they need to use and the benefits of those, it’s easier to talk with them and show them why they should begin their estate planning. If they can see that you have clearly already spent time researching it and learning about it, that can be a catalyst to get them to move forward.
Make your own estate plan
You may even want to take the above a step further and make your own estate plan. This then gives you an organic way to bring it up with your parents because you can tell them what you’ve been working on and then simply ask what they’ve done. It doesn’t sound nearly as invasive this way, and they may even ask you for advice based on your own experiences.
Consider other family members
Another tactic that can be helpful is to schedule a time to talk with your parents and your other family members, such as your siblings. Estate planning is something that’s going to impact all of you, and having all of you there together can be beneficial. This can also make it clear that you’re not just looking out for your own interests or trying to find out what you’re going to inherit.
Working through the process
Whether you are making your own estate plan or working with your parents to set theirs up, it’s very important to know about all of the steps that you’ll need to take and the legal options that you have.