9/12/2017: Don’t Put Off Till Tomorrow What You Can Do Today: It’s Time to Talk with Your Family and Your Estate Planning AttorneySeptember 13, 2017
There’s no perfect time to broach the
subject of estate planning with your
family. We all know that everyone
passes away eventually, but many of us
often want to conveniently forget that
Faced with the decision between taking
the initiative to start a family discussion
about estate planning and putting it off
until later, most people are more inclined
to the latter. But that means opening
your family up to some really unpleasant
consequences in the future. That is why,
unappealing as it may seem at first, the
perfect time to schedule your family
meeting is now.
The short- and long-term value of calling a family meeting
Procrastination is often the biggest obstacle to successful estate planning. It may have
been a while since your plan was updated or reviewed, and you may have never discussed
it with family.
Contrary to what you might expect, the best way to begin usually isn’t to talk about
specific documents like wills, trusts, and powers of attorney or your assets. Rather, it’s to
have a conversation with your family about goals, plans, and hopes for the future.
In the short term, you’ll meaningfully connect with your family and express the care for
them that your estate plan represents. In the long term, you can sleep more soundly
knowing your family will be prepared to know you have a plan as well as the reasons you
designed it the way you did.
How to get started on securing your family’s future
An estate plan can help empower your family’s goals by providing a framework for the
effective passing of wealth from this generation to the next. But the conversation must be
Condie & Adams, PLLC
611 4th Avenue, Suite A
Kirkland WA 98033
Condie & Adams, PLLC is a
values-driven law firm
committed to providing
individuals, families and
small businesses with personalized, clientcentered
legal services in estate planning,
probate and trust administration, tax
planning, and related legal matters.
had within the family. It starts with meeting with your estate planning attorney to get
your plan up to date and continues with a discussion about your plan with your family,
especially those who are designated to serve as successor trustees, executors, and agents.
It’s much better to start this discussion while everyone is still here (and doing well) rather
than waiting until after a loss or significant medical issue. After all, no one is psychic—
it’s much easier to carry out someone’s wishes if they’ve been explicitly stated and
discussed beforehand. And when everyone in the family knows what to expect in the
event of a death in the family, they can spend that time focused on supporting one
another and grieving rather than scrambling with paperwork. In some cases, sharing the
reasons behind your plan can even eliminate or minimize conflict that sadly too often
occurs after the death of a parent or grandparent.
Schedule a meeting with us before the holidays
With the holiday season coming up, you’re probably already starting to look at flights
and locations for holiday parties and such. Now is the time to organize your thoughts so
that, in addition to the merriment of the coming holiday season, family gatherings can
include a discussion about what’s next for the family’s estate planning. Give us a call
today so we can get you ready to cover all the important points with your family. You‘ll
be able to rest easy and focus on quality time together when you have an organized plan.
This newsletter is for informational purposes only and is not intended to be construed as written advice about a
Federal tax matter. Readers should consult with their own professional advisors to evaluate or pursue tax,
accounting, financial, or legal planning strategies.
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about this or any matters relating to estate planning.
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Condie & Adams, PLLC 611 4th Avenue, Suite A Kirkland WA 98033This entry was posted in archive-wealthadvisor. Bookmark the permalink. ← 8/8/2017: Tell Your Clients It’s Not Too Late for a Portability Election 9/12/2017: 4 Times You Should Call an Estate Planning Attorney Right Away: Using Your Clients’ Entire Financial Team Improves Results →