For many families in Pennsylvania and throughout the country, it can be difficult to talk about money and mortality. However, by bringing up these topics in a sensitive manner, it can be possible to do so without starting any fights. Adult children who are thinking about discussing the future with their parents should frame it as a way to ensure that they will be fine going forward.
Parents who are seeking to have an estate planning talk with their children can frame it as a way to ensure that they carry on the family legacy. Parents are encouraged to start talking about money around their children as early as possible. This can instill in them the value of saving money and generally being prepared for the future. Those who don’t want to start a conversation on their own may wish to do so with the help of an outside party.
For instance, a bank or other financial institution may have wealth management professionals who can help families talk about their finances. If necessary, these professionals can have conversations with specific family members in private. This may allow for those individuals to speak their mind without being harassed or intimidated by parents or other loved ones. If a family has a trust, a financial institution can serve as the trustee.
Working with Pittsburgh, Pennsylvania, estate planning attorneys may make it easier to ensure that an individual has a plan that reflects his or her true desires. An attorney may also help parents or grandparents explain their plans to other family members. This may minimize the possibility of resentment or strife between parents and children or between brothers and sisters. Ideally, estate plan documents will be reviewed frequently.