Parents want their children to be happy, even when they’re adults. With that in mind, Colorado residents who begin estate planning are likely to think about how to keep peace in the family when they’re no longer around to act as referee. It makes a parent’s heart break to think that anything they’ve included or not included in an estate plan could cause their children and other loved ones to disagree or worse yet, to become totally estranged.
Communication is key
Parents who consult their adult children during the estate planning process will find chances for disagreement will be slim when it comes time for the estate to be administered. Having a meeting about the estate plan will allow adult children to voice their opinions and will:
- Help family members to understand what exactly is in the estate plan
- Allow loved ones to say which personal items they would like
- Allow parents to tell loved ones where documents will be kept
- Let family members know last wishes
- Let loved one give feedback on the estate plan
Additional important information
A complete estate plan can also provide other pertinent information such as things pertaining to social media accounts, names of important contacts such as an attorney, an accountant, financial planner, clergy, etc. It can also list all assets and debts. The more comprehensive an estate plan is, the easier it will be on loved ones as well as the executor of the estate.
No Colorado residents like to think that their estate planning efforts might create hard feelings between family members. Getting legal advice from an attorney before, during and after writing an estate plan is incredibly important to see that won’t happen. Having a comprehensive plan in place may go a long way to keeping loved ones happy.