Having a comprehensive estate plan is not only an effective way to dispose of assets after death but it also allows individuals to maintain some control over their health care, finances and other matters. Still, almost 70% of Americans have not yet completed even a basic will.
If your parents have not begun the estate planning process, broaching the topic may be difficult. After all, you do not want to come across as greedy or uncaring. Here are three tips for convincing your parents to write a will.
Major life events, like illnesses or divorces, often emphasize the importance of estate planning. Bringing up estate planning during stressful or emotional times may be counterproductive, though. Consequently, if possible, you should try to find a low-key time to start your estate planning discussions.
You probably have a good idea about the state of your relationship with your mother and father. Still, if your parents believe you are trying to gain an unfair advantage over your siblings or someone else, they may not want to write a will. Focusing on other aspects of estate planning, like medical decisions, may do the trick.
If your parents are reluctant to write a will or complete other parts of their estate plan, they may have some valid reservations. Rather than expecting immediate results from your first conversation, plan to have some smaller discussions over a few days or weeks.
Dying without a will can have serious consequences. Ultimately, by striking a patient and compassionate tone, your parents may realize you are looking out for their legal, financial, medical and other interests.