You have done what you can to provide for your family, no matter if they live in California with you or elsewhere. While you and your adult children know you will not always be around to take care of them, you may stumble in talking about your estate plan.
To help overcome this hurdle, MarketWatch offers some tips and insights. Learn the importance of discussing your will and all other aspects of your estate plan now.
Deciding how to talk to your family
Depending on family dynamics and the overall contents of your will, you may prefer to gather your beneficiaries to discuss the contents of your estate and who gets what. On the other hand, it may be easier if you meet with your beneficiaries individually to share how you plan on dividing your estate.
Keeping things fair
To avoid confusion and family infighting, you may divide your estate equally among your heirs. On the other hand, perhaps you tailored your estate according to what you felt each beneficiary would like (or needed) most. Either way, talking about how you decided to divide everything can keep feelings of resentment and jealousy from festering between your family.
Writing a letter
Bringing up your estate and your death may be an especially difficult topic for you to discuss, and a tough conversation for your loved ones to hear. If so, writing letters and having them distributed to your beneficiaries upon your death can provide a measure of much-needed closure for you and your family.
This information is only intended to educate and should not be interpreted as legal advice.