Let’s face it—family dynamics are hard enough when you aren’t talking about money or possible inheritances. It can be very difficult, and sometimes impossible, to make your spouse, all of your children, and yourself happy at the same time, but you are doing the best that you can. You are being a responsible adult and creating an estate plan so who needs to know your rules to follow if you become unable to make decisions for yourself or if you die.
You have the right to make decisions about what will happen to you and to your property without creating a lot of family drama now. Your estate plan should not be part of a family debate.
There Are Some People You Should Discuss Your Plan With
The decision about talking to your beneficiaries is up to you. You can tell your children, or other loved ones, about your choices or you can let them wait to find out the terms of your will and trust after you die.
However, there are some people who you should talk to about the terms of your estate plan. Those people include:
- The guardian(s) you name for your children.
- The trustee(s) you appoint for your trust.
- The executor(s) you appoint for your will.
These people have specific and important responsibilities in your estate plan. You want to make sure that they understand those responsibilities, that they are willing to carry out those responsibilities, and that they are able to carry out those responsibilities before you create your estate plan.
Want More Tips for Creating an Estate Plan That Works?
You are being a responsible adult and creating an estate plan so who needs to know your rules to follow if you become unable to make decisions for yourself or if you die. Accordingly, it is important that you do it right so that you can achieve your goals. For more information about how to do that, please read our FREE report, The Ten Things You Must Know Before Creating (or Amending) Your Will or Trust.