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When you begin to preserve your legacy and final wishes, you may be unsure of how to approach your children about your estate planning. You may feel uncomfortable discussing your mortality or future plans, but involving your children in the process can help alleviate future issues for all parties involved.
Informing Them of the Process
When you begin estate planning, you should inform your children that you are working on writing a will and protecting your final wishes. This disclosure can help keep your children informed that you do in fact have a will and you have begun the process of protecting your assets. When you inform your children that you are writing a will, you should also share where you will keep your will and other estate planning documents for future reference.
Discussing Your Wishes With Them
You should prepare your family to help set expectations of what your will may look like. You can disclose as much or as little information as you would like, but if you have minor children or pets and will elect a custodian in your will, you should discuss your desires with that person before you include that election in your will.
Disclosing this information with your family can set clear expectations and limit surprises after your passing. If family members learn of new beneficiaries or immense debt at the reading of your will, it may come as a shock, which you may want to avoid.
Asking For Their Opinion
If you are unsure about how you will gift certain items, such as heirlooms, you can always consult your children for their opinions. You can ask your children if there is something specific and sentimental they would like after your passing, which you can consider. It is not uncommon for parents to ask their children about asset gifting, such as:
- Their home,
- Financial accounts,
- Sentimental items, such as jewelry or antiques,
- Vehicles, and
- Custody of pets.
Gifting your children sentimental items may be difficult if the item has value for different family members. By asking your children what items they wish for, it can help you through the determination process as you express your asset gifts in your will.
San Diego Estate Planning Attorney
Preserving your legacy can often be confusing and difficult. At Embry Family Law P.C. we strive to help you protect your assets and care for your family, even after your passing. If you are unsure if your wishes will remain the same, your will is not set in stone and can be adjusted at any time.
Are you unsure of how to preserve your legacy? Call our estate planning attorneys at (619) 485-6476 or contact us online to schedule a consultation to learn more about the estate planning process.