Creating And Protecting Your Legacy

Starting the conversation about estate planning with your parents

On Behalf of | Jan 10, 2023 | Elder Law and Medicaid Planning |

Several reasons might prevent your parents from taking a proactive approach to estate planning. Perhaps they feel there is not much of a need yet. Maybe they feel too overwhelmed. Or they could lack an understanding of how important it is.

If you have concerns about your parents’ approach to planning, you might wonder how to begin a conversation without causing offense. With the right strategy, you may encourage understanding and help motivate your parents to start planning.

Identify a purpose

Think of reasons why your parents would want to start estate planning. Some of these reasons could include the following:

  • They have assets they want to pass down
  • They have unique medical needs
  • They have strong opinions on end-of-life measures
  • They want to give to charity
  • They want to reduce the repercussions of taxes on their heirs

Offer to help

Once you have helped your parents identify a reason for starting a plan, offer to help them along the way. Business Insider suggests helping them research professionals who can assist with estate planning. Break down the process into achievable portions and help your parents delegate responsibilities to trustworthy people.

Build a team

Assemble a team of people who can work together to help your parents accomplish their objectives. Remind your parents of the importance of maintaining and updating their plans over time. Having the right people on their team will reduce the risks of an oversight that could derail their end-of-life wishes.

With your unconditional support and genuine interest in their well-being, you might have the opportunity to help your parents see the value of an estate plan.