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How do you tell your family about your estate plan?

On Behalf of | Jan 26, 2021 | Estate Planning

You may ask yourself what the next steps are after you create your estate plan. First, you must keep it updated to reflect your current life circumstances. But you should also let your loved ones know about its contents.

Why? Because you have the chance to clear up possible misunderstandings before they start. But you should know that the discussion ahead could end up a rocky one.

Utilize a mediator

Market Watch discusses the best ways to broach the topic of your estate plan. First, they recommend the use of a mediator if necessary. They point out that the topics dredged up in estate planning are not easy ones to swallow. Even functional families may run into tensions when talking about death and finances. A mediator acts as a neutral third party that can guide discussion. They step in when arguments get out of hand and ensure everyone gets their say.

Plan talks in advance

Next, never launch the discussion on your family without warning. As mentioned, death and finances are heavy topics. No one wants to deal with them without preparation in advance. Instead of bringing about the talk out of nowhere, tell your family you want to set a date and time to go over things.

It may even help to divide up the conversation over multiple days. This allows you to thoroughly cover every topic. It also allows for your loved ones to take a break in between discussions. They can better process information this way. They may also formulate questions, which you can discuss at later dates. You may end up gaining new insight on how to proceed with your plans.