Not many people talk about their estate plans with others besides their attorneys and significant others. They may not inform their beneficiaries that they’re included in a will or even give notice that a specific person will have an important role, like power of attorney or becoming an executor.
This can be a huge mistake. Read on to learn more about the conversations you need to have.
When is it important to talk about your estate plan with others?
If you’re putting together your estate plans, it is important that you talk to those people who will benefit from or work with that estate plan in the future. There are a few reasons to do so:
- You want to be sure your health care proxy is aware of their responsibilities and willing to serve.
- You need to be certain that an executor feels confident with the role and is willing to take on the responsibility.
- You want to reduce the risk of a conflict over your will and final decisions by unhappy heirs.
- If your plans include a guardian for a minor child or disabled adult, you need to be sure everyone involved accepts the plan.
Your attorney can help you put together an appointment where everyone can come together and talk about the estate plan, or you can have a private meeting with each person on your own — although you may want to hold a family meeting if everyone involved is related.
Clarity helps reduce the risk of conflicts in the future, which is helpful for your family when they’re already dealing with a heavy loss. Don’t leave your heirs in the dark once you have your estate plans in mind.