Amid the COVID-19 pandemic, you might be spending a lot of time with your family. This time together might make you thankful for your loved ones, but it should also make you think about what will happen to them after you’re gone. Whether you want to prevent bickering or preserve loving relationships, family time can be an excellent reminder of why you should have an estate plan in order.
Have an Open Conversation
Once you’re thinking about the future, you can take the present as an opportunity to talk to your family about estate planning. Being clear about your wishes can help everyone in the family develop realistic expectations. You can also address any questions or concerns your loved ones might have. There might be some drama, and you will definitely have to handle things delicately, but it’s better to resolve disagreements while you can still be involved in the process.
Topics to Discuss
Before you pass away, you might be in a situation where you require long-term care. While your family is together, you can determine how they will handle your caregiving and/or enroll you in an assisted living program. If you’d prefer to avoid being on life support, for example, you can explain this to your family members and document your wishes legally.
Other discussion topics may include:
- Deciding how your assets will be divided in your will
- Establishing a revocable living trust (to protect your heirs from estate taxes)
- Naming an executor for your will and/or a trustee for your trust
- Setting up financial or medical powers of attorney
For some families, having a basic estate plan may be sufficient. For others, advanced estate planning will be a better option. To get the most out of your family discussions, you may want to consult with an attorney beforehand.
Why Choose Kitze & Canfield?
Our firm understands that estate planning is a family affair. While we are here to protect your interests, we understand those interests may be deeply influenced by your loved ones. That’s why we recommend scheduling an initial appointment, taking advantage of the holidays to talk to your family, and letting us put your wishes in writing after you’ve had a moment to discuss.
If you want to make changes later, our firm will be here for you, as well. We have 40 years of experience putting our clients first and will make ourselves available for a lifetime of legal assistance if that’s what you need.
Our dedication to you starts now – we’re available at (262) 387-0706 for any of your legal questions or concerns.