In our last blog post, we talked about whether you should consider explaining your estate plan to your family. If you decide to have the conversation about your estate planning, the following is a list of topics you might consider discussing with them:
- Where can your children find the documents that will be needed after you pass away
- Information about who will be an advisor or trustee
- Information about who will be the beneficiary for your accounts
- Information regarding online information, such as usernames and passwords to your bank information
- Information about who to contact regarding life insurance
- Location of any money, checks, and other financial assets
When someone has children, they promise them that they will take care of them. When they really mean it, they will do everything in their power to ensure their children and future families will live with no worries. If you lay out all of your plans while you are still able to do so, your family will be able to carry out all of your wishes.
Planning your estate will not eliminate every problem, but when you make your needs and wants known to your family through legal documents, you can certainly reduce the amount of headaches and stress your family may experience.
If you need more information about estate planning or how you can communicate to your family about this, please do not hesitate to contact us.