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Your Estate Planning Can Open the Door for Crucial Conversations

Your Estate Planning Can Open the Door for Crucial Conversations
April 18, 2019 James_Admin
DIY estate plan in Kansas

Kansas Estate Planning Attorney Says Your Estate Planning Can Open the Door for Crucial Conversations

If you have parents or other family members who are still living, you may wonder what their plans are for retirement, or what they would like you or others in your family to do for them in the event they become sick, are hurt, or pass away. Perhaps you have thought about talking about those kinds of things with your parents or other family members, and maybe those conversations have already taken place. If so, that’s great! If not, you are not alone. Many people who have the thought to discuss retirement planning, health care and estate planning with older family members stop short of actually doing so because it feels a little awkward. Okay, maybe it feels more than a little awkward, it probably feels really awkward. 

Fortunately, there are things that you can do that can open the doors to conversations with family members about health care, estate planning, and retirement planning without all of that awkwardness. You may have started planning for your retirement or health care decision making, and you may have even started planning your estate. If you have not yet started doing those things, it is a good idea for you to initiate them sooner rather than later. These topics are relevant to your life as well as the lives of your older relatives, which means that having conversations about them does not have to be awkward.

Talking with older family members about retirement planning, for example, can be an excellent way to build connections in addition to gathering information about what their plans are for the future. Many people are happy to share what they have been doing, especially if they are pleased with how it seems to be working out for them. Your dad may relish the opportunity to tell you about how he’s been maximizing the employer-matched contribution of employer’s retirement plan for years and feels confident that you’ll be in a good position to retire when you want to if you do the same. Perhaps your aunt has an investment plan that’s working out better than she ever thought it would, or your uncle is considering a more aggressive portfolio as he approaches retirement age. Talking about retirement planning with your family could give you some great ideas for your retirement plans, or you might get advice about things people wish they had done differently, which could point to a situation where one or more family members could benefit from your help during their retirement. Either way, you’ll gain valuable information while strengthening family relationships.

The same principle applies to planning for future health care needs and estate planning. If you’re engaging in the process of planning for your future health care and your estate, it’s only natural to ask other family members what they have done in those areas and whether they feel as though the things that they have done will meet their needs. As with retirement planning, you are likely to walk away from those conversations with some great ideas for your plans as well as awareness of what your family members have planned so that you can offer appropriate help as needed.

If you have estate planning questions, please schedule an initial consultation with the law office of J. Joseph Weber, P.A. today, at (316) 265-7802. You may also contact us online. Our location in Wichita is open weekdays, from 8 a.m. to 5 p.m. 

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