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Talking about your estate plan with your kids is important

Many people put off estate planning for as long as possible. They may see it as overwhelming, or they might feel uncomfortable thinking about a future where they are gone. These same feelings can also lead individuals to avoid discussing their estate plan with their children, even after they have made a plan for the future.

Even though creating an effective and comprehensive estate plan is important to protect your family’s future, discussing your wishes with the family is just as important.

Why should you discuss your estate plan with your children?

Of course, you do not have to share every detail of your estate plan with your children, but keeping them in the loop can be helpful. Talking about the estate plan can help you:

  1. Make your wishes clear: A will is the primary estate planning tool you can use to make your wishes clear. However, vocalizing these wishes and speaking with children directly about the details in your will can ensure children understand the will and what you want.
  2. Prevent disputes in the future: Making your wishes clear, in turn, can minimize any issues and potential disputes between family members and beneficiaries that might occur in the probate process. For example, many will contests or disputes stem from beneficiaries worrying that their loved one was under undue influence or that the will is fraudulent. Discussing your wishes beforehand can reduce the chance that someone will dispute the validity of the will.
  3. Prepare them for their roles: Many Nevadans choose an adult child to be their personal representative. They might even give a child power of attorney through an advance directive. However, taking on these roles is a great responsibility. Informing them and making sure they are comfortable with those responsibilities can help ensure your wishes and assets are protected.

Keeping your family informed about the critical aspects of the estate plan can help ease your worries about the future and help you make the most of the present.