Talking With Your Family About Your Estate Plan

Every family communicates differently; from chatting every night on the phone, to a weekly e-mail or simply an annual Christmas card.  The same will hold true when it comes to talking about your estate plan.  The key thing is that it is your estate plan, so determining how much you should share with your family is specific to you and your particular situation.  The fact that you put a plan in place demonstrates that you care about someone and you want to ensure they are provided for.

Clients often ask me, “What should we tell our children?”  My answer is always, “It depends.”  We generally take some time to talk about the pros and cons of sharing this information and how much detail they wish to give.  Based on our conversation, we figure out what they feel is best for their family.

Some of the factors to consider:

• Relationship between you and your beneficiaries
• Number of children and grandchildren
• Relationship among the family as a whole
• Number of those who are married
• Relationship among the spouses
• Any merged families and their situations
• Frequency and types of communications currently in place

The one piece of advice that I would give to everyone, is that you should let someone know, at the very least, that you have plan.  In the event that something has to be done, it is important that someone knows where to find the necessary paperwork and key contacts.

We would be happy to talk with you about your plan and what may work for you.  For more information or to schedule a free consultation, contact us today at 888.222.1328.

Contributed by MH Estate Planning Attorney James P. Plitz

What the Attorneys of Morris Hall Can Do For You:
The attorneys at Morris Hall have 100’s of years of combined experience ensuring that families’ assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down.  The attorneys also help those in Arizona to apply for and receive Medicaid assistance and Veterans Benefits.  Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead.    Contact us today at 888.222.1328 to schedule an appointment!

This blog should be used for informational purposes only.  It does not create an attorney-client relationship with any reader and should not be construed as legal advice.  If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.