30 Jul The Family Meeting
One thing that all people should consider doing is having a meeting with their adult children to explain to them your estate plan and why you’ve made certain elections. Why have such a meeting? Laying out your estate plan in a calm setting can prevent misunderstandings amongst siblings later on and can actually prevent confusion and ill-will.
One of the best ways to do this is with your attorney and your financial advisor present in the family meeting. By having your attorney and financial advisor involved they can help answer any of the questions your children may have and can explain why certain financial and legal decisions were made. The estate planning attorney can explain exactly how the estate plan was designed, why you’ve chosen to design it this way, and what the children should do if you became ill or die.
Although some may consider a family meeting uncomfortable, in truth, it’s a way to make your children feel involved in your care, feel empowered about how to care for their parents, and can can bring a family closer. You can never go wrong with communication. A family meeting can put everybody on the same page and lessens the likelihood that your children will ever second guess your decisions.
Until next time. Wishing you and your family a safe journey,
The Law Office of Amy Antonellis