While you may not find the topic of death and planning your estate to be the most exciting, being proactive about creating a plan that you feel good about is crucial to guaranteeing that things end up where you want them if you ever become incapacitated. At The Law Offices of Saia & Piatt Inc., we have helped many people in Ohio to develop an estate plan that meets their unique situation.
One of the first parts of creating an estate plan is to have a productive conversation with your family. You may look to them for suggestions regarding important aspects of your plan. You will also need to disclose details to them so they are aware of your wishes and the implementation of your desires in the form of a will. According to Fidelity, having a productive conversation with your family is important to verify that everyone is on an equal level of understanding regarding your life’s inheritance. With healthy discussions about where you desire for certain assets to end up and how you wish to be cared for, your family can be confident that they understand your intentions fully. Productive conversation can also reduce the chance of unnecessary tension and disputes from occurring in your family following your death.
Other benefits of productive conversation include the following:
- Better prepare the people you love for the time when you may become incapacitated.
- Encourage empowerment and responsibility among your family members.
- Help lay the groundwork for a common understanding of your estate plan as a whole.
- Pass on values, characteristics and life lessons that are important to you.
These benefits and the peace of mind that comes from knowing your estate plan is in functioning order, can be the satisfying reward of having conversations about your estate plan with your family. For more information about retirement, visit our web page.