Benefits of Discussing your Estate Plan with your Children
Discussing your estate plan with your child can be a unique opportunity to not only connect with
them but to ensure that your wishes are fulfilled after you’re gone. This pandemic has shown us
that being prepared in all aspects of life, especially estate planning, is necessary. The reality is
that a large amount of wealth could be transferred to them at any moment, and being transparent
with your plans makes for the smoothest transition. Many people create estate plans and
automatically name their child as the trustee but fail to discuss the role and what is involved with
their child. By having your child involved in the process and allowing them to ask questions
about responsibilities and valuables that the documents may not address you can save them a lot
of trouble down the road. This will ensure accounts are not forgotten and the bills are paid. One
way to get your child introduced to this is by setting up a meeting with your estate planning
attorney or financial advisor. While it may not be an easy conversation, making sure your child
has a general understanding of your situation, wishes, and estate can be very helpful towards
solidifying your legacy and your future. The professionals at The Center are more than knowledgeable, for more information, please contact us at (618) 997-3436

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