It can be a bit complex to talk about estate planning with your own parents. On one hand, you want to ensure that they have a plan in place, and it can be helpful to have discussions about what they expect. On the other hand, you don’t want them to think that you are just waiting for them to pass away so that you can get your inheritance.
Fortunately, there are some helpful tricks you can use to start this conversation. Here are a few examples.
Focus on the benefits for everyone
It may be wise to have a family conversation, rather than talking to your parents one-on-one. But even if you have the conversation yourself, you should still bring up different ways in which your parents’ estate plan can help you, your siblings, your own children and any other beneficiaries. By focusing on the whole family, it’s clear that you’re not just looking out for yourself.
Offer insights and advice
If you’ve started making your own estate plan, one way to start the conversation is just by giving advice to your parents based on what you’ve learned. Ask them about certain types of documentation that you have used, which you think may benefit them in their situation.
Start the conversation from a place of empathy
Stress that you just want what’s best for your family. If your parents are incapacitated, for instance, you want to know what medical decisions to make. If you and your siblings are going to be dividing assets after your parents pass away, you want to reduce the odds of estate disputes and conflicts.
By framing the conversation in the right way, you can talk to your parents about estate planning. As your family goes through this process, it’s important that everyone involved knows what legal options they have.