Estate planning is an important subject, but that doesn’t mean it’s easy to talk about. Perhaps you have recently taken steps to protect your family’s inheritance, and are concerned that your parents have not done the same?
How do you approach them about such a sensitive topic without causing upset? There is no “one size fits all” approach but there are a number of factors to consider. When approached the right way, your family members can see the numerous benefits that a solid estate plan can bring.
Tackle estate planning as a family
Thankfully, the burden of estate planning does not have to fall on one person. This is something that you can all tackle together as a family. By including everyone in the conversation, parents can fully absorb how important their well-being is. When the entire family is involved, it will also help parents to overcome any unwarranted suspicions about ulterior motives or bad intentions regarding their financial matters.
Explain the benefits that estate planning can bring now
Often, estate planning is often thought of as something that only applies after death. While many estate planning instruments are concerned with how assets will be divided after death, there are also a number of ways that an estate plan can help in the present. Your loved one can make sure that all of their current medical needs are taken care of, and they might also opt to create trusts that act immediately. All in all, by having a watertight estate plan in place, the whole family can have peace of mind in the present and not just the future.
With the right approach, you can ensure that relatives adopt an estate plan that suits their specific needs. As you embark on this process, remember that there are various protections available under Texas law.