Estate planning isn’t something that people talk about frequently. You may have no idea if your parents have actually made an estate plan or not.
At the same time, you may be very interested in finding out. Perhaps you’re worried about disputes in the future or maybe you’re just curious about what you should expect to inherit. Here are some tips to help you bring up this conversation.
1. State your reasons
One thing that can help is just to explain why you want to have the conversation. This is especially true if you are concerned that your parents will think you’re just trying to get their money. If you start by explaining that you don’t want to get into a dispute with your siblings, your parents might be more open to this conversation.
2. Include the rest of the family
Speaking of your siblings, it can also be helpful to include them in this conversation. Your parents’ estate plan is going to affect all of you. Plus, having everyone involved in the conversation helps to demonstrate that you don’t have any selfish ulterior motives.
3. Pick the right time
It can be a bit difficult to choose the right time to talk but look for an open block of time where you can have a serious conversation without interruptions. You may want to wait until a specific life event has happened – such as your parent being diagnosed with an illness. But life is unpredictable, so it’s risky to put off the conversation and may be best just to have it in advance.
Whether you are assisting your parents with their estate planning or starting to work on your own plan, make sure you know what legal options you have.