Thinking about what happens in the event you become incapacitated can be a daunting prospect, let alone telling anyone else about it. However, despite the challenging nature of this conversation, it is one that needs to be had.
Having a watertight estate plan in place not only means that your final wishes will be honored, but it can also provide your family with a sense of stability. Outlined below are some tips on getting the conversation started.
Be sure to express the benefits for everyone
Your estate plan doesn’t only affect you. It can benefit everyone around you. Explaining this as concisely as possible to your family members could relieve any feelings of apprehension. They are likely to respond well once they realize how important it is to your well-being. Also, disputes over inheritance often occur because terms have not been clearly expressed. Emphasizing this will also provide a source of motivation for your family to get on board.
Choose the right moment
Getting your estate plan in order as early as is practicable tends to be advisable. If you leave it until the last minute or during a time of family crisis, this will only heighten stress levels. Your adult children are more likely to be receptive to discussion during periods of relative calm. This allows them to digest information and give careful consideration to your unique needs.
Discussing issues surrounding inheritance is never easy, but you can get through it as a family. As you make plans for the future, be sure to keep in mind your legal rights in Texas.