This is a discussion of some components to be considered in formulating an Estate Plan as well as some considerations to be taken into account when discussing your Estate Plan with your family members. Further, this article proposes some ways in which it can be beneficial to involve your Estate Planning attorney in this process.
Estate Planning Components
While you may be primarily responsible for handling your affairs, it can be important to include your family in discussions about your estate and your wishes for the future. Conducting a family meeting focused solely on this matter can help avoid any unwelcome surprises or misunderstandings in the future.
Estate Planning is a process that requires careful thought and attention to details. Often, this process can include several of the following:
- Starting a Trust;
- Appointing a business successor;
- Assigning an executor to your estate;
- Choosing an individual to hold a power of attorney.
An Estate Planning attorney can help guide you through this process step-by-step to ensure that the proper documents are authorized and signed. Once the required decisions have been made and the requisite paperwork has been executed, you will be in a better position to answer questions that your family may have.
Estate Planning Attorney
In addition to an explanation about your desires, a family meeting can also include participation from your Estate Planning attorney. An attorney can help explain how the Estate Plan works and how key decisions were made. This also allows for an introduction to your attorney and your family members in order to establish a relationship that will create a greater level of comfort when discussing matters in the future.
An agenda can help this meeting stay on track so that all of the essential information is covered. Moreover, this meeting is intended to create peace of mind for both you and your family, and it therefore only needs to touch on a general explanation of your Estate Plan. It is not necessary to focus on financial details or numbers here.
When scheduling a meeting, consider some of the following: A quiet place where there will be no outside interruptions;
- A quiet place where there will be no outside interruptions;
- A date convenient for everyone that is separate from other family gatherings for events, such as holidays;
- A meeting timeline in order for everyone to stay on track with the agenda;
- A limitation of the meeting to adults only, so there are no child-based distractions.
An Estate Planning attorney can help you put your affairs in order for the future, but the reality is that disclosing this information to your family may still cause some anxiety or concern. Taking the time to discuss your plan with your family will let them know you have given careful thought about the future and that they can hear directly from you what exactly your express wishes entail.
ODGERS LAW GROUP specializes in Estate Planning and can help you through the process from start to finish. Together, we can create a master plan that is tailored to your needs while ensuring your assets are protected. The task of setting up an estate plan does not have to be a daunting one. To learn more about Estate Planning or to schedule your free consultation with Mr. Odgers, contact us by e-mail, call us at (858) 869-1114, or schedule your appointment online here.