Elder Law Attorney Colorado Springs – Conversations about death and dying are rarely fun. Most people avoid them because they evoke strong and unspoken feelings about our mortality. Dealing with this issue can be difficult for parents and their older children. You avoid the topic because you don’t want to think about your parents’ death, and especially because you think you’re waiting for your parents to die.
Despite these potential difficulties, we recommend avoiding content. Good financial and estate planning will help your parents preserve their legacy and care for their loved ones. A comprehensive plan gives them a voice at the end of life or when they can no longer make medical decisions for themselves. In the absence of preliminary discussions and documents that clearly define the decision-making authority. State law regulates what happens in the most vulnerable parts of life. Default state rules may not reflect your parents’ wishes. In addition, the proper probate of your parents’ wills can leave their heirs facing costly and time-consuming litigation, or making life-saving decisions without knowing your parents’ wishes, or worse.
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Understanding the consequences of avoiding a conversation isn’t the question, “How do you start a conversation about estate planning?” A teaching approach may not suit all situations. Instead, here are some tips to help you sit down with your parents.
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Anxiety can make things worse. If you’re trying to convince your parents about your estate plan, the last thing you want to do is get angry. Complaining instead of starting a productive conversation can create an atmosphere that is less open to honest conversations. Parents may feel embarrassed or question your intentions. If your parents are hesitant to discuss their plans; Find ways to extend content without protecting it.
Honest and open communication is best. It can be difficult to be honest and truthful about what happens when your parents die or lose their decision-making capacity. It is never easy to discuss parenting in this context. Also, every family has its own history. Areas of concern indicate sensitive family situations and can trigger strong emotions. The best estate planning conversations with your parents are to avoid these awkward family issues. The key to estate planning is that your parents share their experiences. Wishes and understandings can still be given, but the hard questions must be asked now. Later evaluations of their desires underestimate their true desires.
Necessary Parties: Sisters; Children, new spouses and ex-spouses should also be included. When your parents have these conversations, let them know you support them. Understand their desires and make it a priority to help them fulfill them.
May everyone be healthy. Make sure everyone involved is in good general health. A heated discussion about the serious health and financial consequences that can arise after harming someone’s health can lead to decisions that are questioned by both parties. In such a case your parents, their Asset and Legacy Planning may be overshadowed by concerns about their health. Or some parties may not agree on decisions, but later conflicts arise.
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Ask them directly what they want. Find out what your parents want in general. What is most important to them? What are their top three values? What is the best life lesson for them? Ask them directly and don’t assume. Most of our clients are surprised by what their parents say.
Consider the plan already planned. Some of our clients come to us with some documents that they created when starting their first family. Your parents may have documents that describe what will happen if they are unable to make decisions or die, but the documents are irrelevant because they do not address the changes that have occurred in the family over time. Some of these documents may be legally binding. As a result, asking them about what they have done in the past is an important part of effective coaching. Specifically, request and collect one of the following documents – Make sure the documents have been reviewed by a qualified estate planning attorney within the last three years.
This includes benefits for children and grandchildren. Talk about how your parents are building their legacy through their children (you and your siblings) and their grandchildren. Grandparents often have a great desire to provide for their grandchildren. Find out how your parents want to divide their money and assets. Again, walking in this area requires great tact and wisdom. It’s easier to work out the details of a distribution plan by being honest and open about your parents’ wishes.
Think about your parents’ financial planning. Financial planning and estate planning are two sides of the same coin. Consider finding a qualified financial advisor to help your parents preserve their money for as long as they need it and help the next generation.
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Reaching out to parents about end-of-life planning and being clear about their wishes helps lay the right foundation for effective estate planning.
Family meetings often involve difficult conversations. Conversations are hard, but they don’t have to be. If you’re confused and want help talking and guidance about how estate planning works, we’re here to help. Call our office at 719-520-1474 to schedule an appointment with us to begin the process.
Kathryn Hammond is the CEO and founder of Hammond Law Group, a Colorado estate planning law firm founded in 2005. With a strong focus on protecting families from the legal consequences of disability and death, he creates comprehensive estate plans that minimize taxes. Expenditure and government intervention.
A resident of Denver, Kathryn earned her bachelor’s degree from Coe College in Iowa and her juris doctorate from the University of Denver College of Law in 1993, specializing in estate planning; Focus on taxation and moderation. Katherine is a wealth advisor; Senior Advisor, National Academy of Elder Laws; He is a member of professional organizations including the Colorado Springs Estate Planning Council and the Intentional Planning Institute. In addition to her legal practice, Catherine provides transition coaches to support clients and their families through life transitions. If your loved ones don’t talk about your estate plan, they are doing something wrong and you will die. When planning your estate; Most people are so caught up in life (death and dying) that they don’t want to talk about it. Even if you have a comprehensive estate plan, that plan isn’t complete until you have a family reunion. Legal documents are not the most important part of your estate plan. Housing projects do not fail due to documentation problems. Usually the most important part of your estate plan is your loved ones. Therefore, it is important to communicate the basics of your plan before they fully understand it. The basics include your wants and desires for them, so you understand the reason behind your plan.
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A family meeting is a private time for you and the people you want to meet at Hammond Law Group. The meeting will be held with the help of one of our lawyers and our team of lawyers. The goal is to meet with the team and review the basics of your estate plan. Some came from far away.
But before we discuss the benefits of family meetings, let’s find out why most people don’t understand them.
We don’t think about meeting with our families about our estate plans (shouldn’t the documents tell them something?).
We don’t understand that there are things we haven’t talked about (my loved ones know it’s important to me and I trust their decision).
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One of the most common situations we see is when older children or other beneficiaries fight because they don’t like the plan. Whether they think they should make more money or take a bigger role in managing your property.
Beneficiaries also struggle because they believe the documents do not reflect their parents’ true wishes. Another child or beneficiary may force you to do something a certain way or they believe you will get more than what they received.
Usually Behind the struggle for property, the people involved are just bored; Getting angry or scared. These can be feelings caused by sadness; Or they may be emotions that have been bubbling at the surface for a long time. A family meeting can help resolve these feelings long before property disputes begin.
There are often quarrels in the family. This happens even when our clients are 100% sure that they will be their children or other beneficiaries.
Tips For Talking To Your Parents About Estate Planning
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