As the holiday season unfolds, you may find yourself spending cherished time with family, celebrating, and expressing gratitude for their presence in your life. This season is a perfect opportunity to not only share memories but also discuss important matters, such as health, finances, and family assets.
How to Approach Estate Planning and Future Planning Conversations
For families who don’t see each other often, holiday gatherings provide a chance to check in with aging parents or grandparents, ensuring they have essential estate planning provisions in place as they grow older. Thoughtful discussions about the future don’t need to overshadow festivities; in fact, they can strengthen family bonds and provide peace of mind for all involved.
At a minimum, your loved ones should have a will or trust, with a clear asset distribution plan. If it’s been a while since these documents were reviewed, this might be a good time to suggest an update. (And if no documents are in place yet, please contact us soon at (951) 414-3731!)
In addition to these essentials, consider these questions to guide your conversation, particularly as they relate to health changes and decision-making:
- Do they have an advanced directive for health care, like a living will, detailing their wishes for medical decisions, including life-prolonging measures?
- Who holds the durable power of attorney for health and finances? Is that still the right person?
- Have there been any recent changes to their estate plan, and what prompted those changes?
- Are there any noticeable changes in mental clarity or memory?
- Have they thought about adding a caregiver or other support beyond immediate family?
By discussing these topics, you’ll gain valuable insights into potential next steps for additional planning documents or updates to existing ones.
Want to Learn More?
If you’re ready to help your family members begin this process, reach out to us for a consultation or attend one of our workshops. Our free guide, A Compassionate Guide: Recognizing When Your Aging or Disabled Loved Ones Need Extra Help, is also available to provide additional insights and resources at bit.ly/SignsToLookForGuide.
If you would like to attend an Estate Planning Workshop, please visit www.estateplanningworkshop.org to sign up. Bring support and peace of mind to your family this holiday season, call us at (951) 414-3731 to learn more.
