Planning for the eventuality of death and the possibility of incapacitation in the future is not easy. These are sensitive matters, and it is not easy to discuss this possibility with loved ones, especially children. While the discussion about estate planning may not be easy, it is important to have an openness about these sensitive matters. Whether one’s children are adults themselves or are still living in the home, having a conversation about the future is helpful for all Texas families.
Important matters to discuss
It can be helpful for children to know who their parents designated as the executor of their estate. This may reduce confusion and conflict when it is time to settle the estate. This is particularly important if the parents appoint one of their children to the role of executor. It may also prove helpful if the parent explains the intention behind their choice.
Another important matter to discuss is the location of important estate planning documents. Knowing where these papers are can reduce complications in case of an unexpected death or accident. By discussing intentions with their heirs, Texas parents can make it less likely that siblings will fight over details of care their parents need or the terms of their estate plans.
Creating a practical plan
Before discussing plans with loved ones, it is important to first have a strong estate plan in place. It is not always easy to know what should be in a place, which is why it is helpful to work with an experienced attorney when creating a strategy. Each estate plan is unique and should be custom-tailored to individual needs and objectives.