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Is Talking About Estate Planning Going to Cause a Fight in Your Family?

December 23, 2019

Filed under: Estate Planning — Laura Pennington @ 9:15 am

Getting together for the holidays or to celebrate the new year gives you a great opportunity to reconnect with your loved ones. But if one of the things on your to-do list this year is to discuss estate planning arrangements, you might be concerned about the possibility for conflict.

The good news is that there are delicate ways to handle this situation to decrease your chances of ending up in an argument with your loved ones. Estate planning is a very personal and individualized process, which means that the great deal of thinking you might have put into the process, won’t necessarily translate to your loved ones. And yet, planning before disability or death is one of the best gifts that you can give your family.

Many family members are embarrassed to discuss the topic of money, but might miss out on beneficial financial strategies like putting together trusts. If you’re thinking about using a trust as one of your estate planning strategies, however, you can increase your chances of success by communicating your financial values to your children early on.

When you have a conversation about trust and estate planning, approach this topic with care and respect. Be both considerate and candid. The next thing to consider is to rely on the insight from a knowledgeable estate planning attorney to verify that your estate planning is customized to the goals you intend to accomplish.

The investment that you spend in putting together an estate plan, especially involving a trust can payoff in spades for your loved ones when they understood why the trust was being used and when you have properly funded it. Schedule a consultation today with a dedicated estate planning lawyer to talk through more benefits of trust funding.       

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