Should you discuss your estate plan with others?

Should you discuss your estate plan with others?

On Behalf of | Jan 18, 2024 | Estate Planning

While making an estate plan involves a lot of personal choices, you do not necessarily need to keep those choices to yourself. Sharing them while you still can is often a good idea for you and those you will leave behind.

These are just some of the reasons why you should consider telling others about elements of your estate plan.

You may need their agreement to take on a specific role

Executors, powers of attorney and guardians for any minor children you have are just some of the people you should nominate in your plan. There is no point in nominating someone only for them to refuse to accept the role when called upon. Getting their agreement before you put their name in your document is wise. Letting a select few know who you have chosen for each role can also provide reassurance that you have things covered and avoid people worrying about who will take on certain roles.

You do not want them to be disappointed or upset

Let’s say you have three children who you love equally. Each may expect an equal share of any assets you leave. You, however, have other ideas. You know that one of the children is already far better off than the other two, so you’ve decided to leave them a few token items to remember you by while giving the bulk of your wealth to the two who most need it.

If you explain this to them now, they will hopefully understand your reasoning. If you leave it for them to find out when you die, they may feel confused about why you would do such a thing. They might even suspect the other two of influencing your decision and try to contest your wishes.

Ultimately, getting help to learn more about estate planning can help you make the best choices for you and your family.

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