Topic: Talking to Your Parents About Estate Planning

Host: Sidney Wheelan

Key Points:

• Why this conversation is important: Even though it can be difficult, discussing estate planning with your parents ensures their wishes are known and avoids potential conflict among family members.
• When to have the conversation: There's no perfect time, but don't wait until a crisis. Choose a calm and comfortable setting.
• Tips for approaching the conversation:
• Start by expressing your concern for their well-being.
• Find out what they've already done.
• Emphasize the importance of preventing family conflict.
• Consider including all family members in the discussion.
• Be prepared to address their concerns with empathy.

What to discuss:

• Whether they have a will, trust, power of attorney, or healthcare power of attorney.
• Their wishes for their assets and legacy.
• A succession plan for a family business (if applicable).

Additional Tips:

• Do your research on common estate planning terms.
• Ask open-ended questions to encourage them to share their thoughts.
• Consider involving a professional (estate planning attorney or financial advisor).
• Share your own positive experiences with estate planning (if applicable).
• Highlight the benefits of planning, such as peace of mind and avoiding probate court.
• Remember: This is an ongoing conversation. Schedule regular updates to keep the plan current.

Call to Action:

• Invite your parents for coffee or a latte and have a conversation about estate planning!

WheelanLaw.com

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