Starting Estate Planning with an Open Conversation
The most effective estate plans are those that begin with an open conversation with all parties involved.
In the typical estate plan, you should think about what property and assets will go to which members of your family. Indeed, the most difficult part of your estate plan might be assigning asset ownership in a way you feel is correct and fair. But discussing it with your family could make things much easier.
In the spirit of the holidays, people will likely feel less entitled to inherited assets and be more willing to the idea of the assets going to someone else in the family who might need it more. For example, if you own a vintage car that everyone in your family loves, then there might be some competition among your children about who gets it when you are gone. But during the holidays, the idea of thankfulness and sharing could inspire family members to collaborate and determine who is truly best suited for the inheritance. Maybe there is a grandchild who is just starting to drive that would be thrilled to inherit your car? The possibilities go on and on.
A Reminder of What Matters
Being with your family makes estate planning easier because it serves as an immediate reminder of what really matters in life: the ones we love. You will have a clearer perspective on what you want your estate plan to do and why due to your recent interactions with your family.
Do you need help forming your estate plan this holiday season? Kitzke & Canfield LLC in Grafton would be happy to help. Our estate planning attorneys have extensive experience with estate planning law, making the process as simple as can be for you and your family.
We’re known for quick response times and flexible scheduling options, so call (262) 387-0706 at any time to begin.