It might be difficult to assist loved ones with their estate planning. Find out how to get started here.
What you’ll discover:
How can I start a talk about estate planning with family members?
What are the most significant reasons I should express to my loved ones in order for them to begin or update their estate plan?
Can I assist someone else in preparing a Last Will and Testament or another legal document?
Is a Last Will and Testament signed electronically valid?
The holidays are often referred to be the most delightful time of the year. The Christmas season is a terrific reason for families dispersed across the county or the world to gather everyone together. If your family does not get together on a regular basis, this might be the ideal time to talk with loved ones about estate planning. The appropriate approach to this tough issue may result in a useful strategy that puts everyone concerned at ease while without hurting anyone’s emotions.
How can I start a talk about estate planning with family members?
Because you are the most familiar with your family, the answer to this question is dependent on your communication style and connection with family members. In most circumstances, it’s not a good idea to walk up on your parents’ doorstep with a pie in hand and instantly bring up the matter. Rather, when you’ve settled in, find a time when there isn’t much going on — and no small children are about — to devote some time to this subject. You don’t want to wind up arguing about wills across a large dinner table of relatives. Consider yourself and a sibling sitting in your parents’ living room while spouses take the kids out to play with new toys.
If your family speaks honestly about a wide range of topics, you may be able to initiate a discussion about estate planning at an opportune time and let it evolve from there. If your parents or other elderly loved ones tend to hold this kind of information close to their chests, you may find it useful to frame the discussion by recognizing any pain it may create and telling them that you just want to make sure they know what to do or who to call.
What are the most significant reasons I should express to my loved ones in order for them to begin or update their estate plan?
In general, it may be beneficial to concentrate on the possible negative consequences if your loved ones do not have an estate plan in place. Specifically, if your loved one dies or becomes disabled without an estate plan or will, their preferences on what should happen to them, their belongings, and their finances are unlikely to be fulfilled.
Healthcare papers are an important part of estate planning that are sometimes disregarded. For example, your loved one may be unaware that unless they execute a Healthcare Power of Attorney, they may have no influence over who makes healthcare choices for them in the event they become incapacitated. There would be no way to know their desires without this paper, or an Advance Directive. If your elderly parent is widowed and does not have a spouse to depend on for this role, they would most likely want to pick someone rather than leave a physician to arbitrate between feuding siblings or adult children.
If your loved one becomes incompetent or dies without a will, their estate, including any financial assets, will almost certainly have to go through probate in the state where they live. This is the procedure by which a court divides a person’s property according to state law, which may not be attractive to your loved one.
It may be helpful to approach estate planning as part of a dialogue in which you concentrate on what your loved one wishes for and what they want to happen before gently directing them toward creating an estate plan that provides those goals. A Last Will and Testament may be a useful approach for your loved one to record critical choices and freely discuss their preferences with family members while they are still able.
Can I assist someone else in preparing a Last Will and Testament or another legal document?
Fortunately, the answer is true, but if you are also a beneficiary, you should consult with a lawyer about the possible legal complications.
If you’re not sure where to begin, sit down with your loved one(s) and have them go through the Estate Planning Worksheet for Married People or Estate Planning Worksheet for Single People. They can probably perform much of the job on their own if they can utilize a mobile device or a computer.
Is a Last Will and Testament signed electronically valid?
The answer to this issue is dependent on the state in where your loved one lives, therefore you should consult with a lawyer to be certain. Many jurisdictions require a Last Will and Testament to be signed in the presence of witnesses, although other states may accept an electronic signature if there is clear proof that the signer intended the document to be their Last Will and Testament.
