When it comes to estate planning, the importance of proper communication cannot be overstated. Drafting wills, trusts and other estate planning documents is important, but so is communicating the provisions held within to loved ones. While these may be difficult conversations to have, the end result is a far easier process for those Georgia residents named in estate planning documents.
In addition to outlining the general provisions of an estate plan, it’s also important to have an in-depth series of discussions surrounding wealth and the importance it holds within the family. Some families prefer to have formal, scheduled meetings for the purpose of discussing these matters. Others prefer to simply incorporate these discussions into routine family interactions.
For those who work with a financial planner or estate planning attorney, it may be a good idea to have adult children meet with those professionals. That can help address any lingering questions or concerns held by loved ones. It also helps family members have a better understanding of what to expect when estate planning documents called into action. In the best outcomes, these types of meetings prompt younger generations to take a more active stance in their own estate planning needs.
Communication is a critical component of all interpersonal relationships. That’s especially true for Georgia families as they create or alter wills, trusts and other estate planning documents. As with so many things, engaging in open and respectful conversations on a frequent basis is the best way to avoid potential disruption or disappointment down the road.
Source: Forbes, “Two Key Steps To Successful Estate Planning“, Bob Carlson, May 15, 2018