Everyone has concerns about what will happen when they die; many people worry about their children and want to make preparations for their care. Fortunately, there are steps you can take to get there.

PREPARATION IS KEY

As with many things in life, preparation is the key to success in these conversations. First, when you choose important decision makers, make sure you match the skills of the person to the job. For example, the executor of a will must be able to gather assets, prepare paperwork, handle finances, and deal with potential family disputes. It would be unwise to select an executor who lacks these capabilities.

Too often, people choose executors, trustees, guardians, and powers of attorney based on emotions or arbitrary factors, such as who is the oldest child or who might be offended if not chosen. These are difficult, demanding jobs, and you need to choose people who can handle them. It also helps to talk these issues through with an experienced attorney or confidant before making your selections.

Next, prepare your paperwork before your family meeting. Work with your lawyer to make the best decisions possible, and commit them to writing. This will help reduce any misunderstandings about your wishes.

Before the meeting with your family, consider the questions that may arise. For example, if you are concerned that one child will be upset because you named another child executor, be ready to answer questions about why you made that decision. It may be that the person you chose is an accountant and would be well suited for the job, or it may be that you’re concerned about overburdening the other child. Whatever the case, be prepared to offer your reasoning. Your explanation will go a long way toward reducing any hard feelings and potential disputes after you’re gone.

COME PREPARED FOR BUSINESS

Once you have your family together, it is important that you not only let them know what your decisions are, but also that it is important to you that they support you and each other. Have copies of your documents available so your family can ask questions about them.

You should be prepared to answer potential questions. Remember, this may be an uncomfortable topic of discussion for your family members. If someone just can’t get on board, remember that you are dealing with your life and your assets. The ultimate decisions as to how you handle them are yours, and you can even terminate the meeting if necessary. Also, make sure your family knows that your decisions may change as time goes on.

Finally, remember the goal for this discussion is to provide your family with more than just a set of legal documents outlining your wishes. By talking to them about your intentions, you are helping them gain understanding, comfort, and even buy-in with your plan.

This article is a service of Simpson Law Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love. We offer an Estate Planning session, during which you will get more financially organized than you’ve ever been before and we will assist you in making all the best choices for the people you love. You can begin by contacting us here, https://simpsonestatelaw.com/contact-us or calling us at 803-764-9555, and one of our friendly client service assistants will help you set up your consultation!