Have you ever asked your parents if they have written a will? It is something that many adult children wonder about, but it can be a sensitive subject. You do not want your parents to think that you are just sitting around waiting for them to pass away so that you can inherit their money and other assets.
Fortunately, there are ways to bring this up. Maybe you are concerned that your parents do not have a plan in place at all. One tactic is to voice this direct concern. Without a plan, there are greater chances of conflicts between beneficiaries and family members, and your family may not have any guidance if there is a medical emergency. You can bring up estate planning with your parents from the perspective of looking out for the well-being of the family moving forward, not trying to get your own inheritance.
Talking about your own plan
In addition to showing that you care about the entire family and want what is best for everyone, you may be looking for a natural way to bring up this topic. For many people, death and dying are not subjects that come up organically.
One way to do this is simply to make your own estate plan. You can then use various tools, such as a living will, a power of attorney or a discretionary trust – just to name a few examples. You can tell your parents why you decided to do this and what you were trying to accomplish, and this gives you a very natural way to ask what type of estate planning they have done and what legal tools they have used. If they haven’t started, you’re in a perfect position to tell them what has been most helpful for you.
Estate planning can be very helpful for families, but it is a complicated process. It is important for those involved to understand all their legal options.