By Lane V. Erickson, Attorney
Every generation is different in how they communicate. This is the reason for the name “the silent generation”. It seems that Baby Boomers, and Generation X members, as well as later generations, are much more open and willing to discuss matters than older generations are. This has never been more true than when it comes to discussing your estate plan with your children. Keep in mind that there is no legal requirement that you share anything with your children about your Idaho Estate Plan. However, if you do plan on discussing it with your children, here are 3 tips on how you can discuss your Idaho Estate Plan with your children.
1. It is Your Idaho Estate Plan, Not an Agreement
The most important thing to understand is that this is your Idaho Estate Plan. This is not a bargaining session, it’s not a negotiation session, it is simply your opportunity to present your Idaho Estate Plan to your children and to discuss it with them so that they will understand it.
One of the simplest ways to keep discord from occurring is to announce that you have met with your attorney, you have prepared your Idaho Estate Plan, and it is your attorney’s advice to you that you present it to your children. You can also state specifically that your Idaho Estate Plan is completed and is not open to change. That should eliminate any feelings your children might have that they can bargain with you or can talk you into making changes.
2. Prepare Your Documents Before and Bring Copies
It’s easiest to present your Idaho Estate Plan to your children if you have copies prepared that you can provide to them. It is also important for you to tell your children that the original copy of your Idaho Estate Plan is held by your attorney. Again, the more open you can be about what your estate plan is the less confusion and discord will arise with your children.
3. Get Your Answers Ready
The final tip is that you should anticipate and get answers ready to the questions you believe your children will ask you about your Idaho Estate Plan. If you choose to share your Idaho Estate Plan with your children, then you should be prepared to answer every question they have about it. If there are questions they ask that you cannot answer, you can simply tell them that you will talk with your attorney and will get back with them with an answer.
While there is no requirement that you talk with your children about your Idaho Estate Plan, many people feel that it is in their best interest to do this so that their children fully understand what their wishes are. By following the tips outlined above, this talk should go more smoothly, and there should be less reason for argument or discord within your family.
Call us toll free at 877-232-6101 or 208-232-6101 for a consultation with Lane Erickson and the Racine Olson team of Estate Planning attorneys in Idaho. You can also email Lane Erickson directly at lve@racinelaw.net. We will answer your Idaho Estate Planning questions and will help you solve your personal estate planning needs.
This website includes general information about legal issues and developments in the law. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and must not be taken, as legal advice on any particular set of facts or circumstances. You need to contact a lawyer for advice on specific legal issues.