Gather Together: Estate Planning for Peace of Mind

As the holiday season unfolds, families gather around the table, sharing meals, stories, and laughter. These gatherings are often filled with emotional richness and cherished traditions, making them one of the rare times when generations unite in one place. While it might feel a bit awkward, these special moments also present an ideal opportunity to discuss the future—including estate planning.

Why Estate Planning Matters

Did you know nearly 55% of U.S. adults are without a will or estate plan? Without one, probate can consume 3–7% of an estate’s value and may lead to family disputes. Estate planning isn’t just for the wealthy or elderly; it ensures control, clarity, care, efficiency, and legacy for your family. It decides who controls your finances and healthcare if you can’t, articulates your wishes, and protects those you love.

Questions for a Meaningful Discussion

Talking about estate planning doesn’t have to be daunting. Here are some thoughtful questions for both adult children and parents to consider:

Questions for Adult Children to Ask Parents:

• Do you have an up-to-date will or trust in place?
• Who have you chosen to make decisions if you’re unable to?
• Have you shared your wishes for medical care and end-of-life planning?
• If something happened tomorrow, would we know where to find your documents and accounts?
• Are there heirlooms or traditions you’d like us to know the stories behind?
• Do you feel confident that the people you’ve chosen to handle your affairs are still the right ones?

Questions for Parents to Ask Adult Children:

• Do you know where to find my important documents in case of an emergency?
• Have you considered creating your own will or estate plan?
• If you received an inheritance tomorrow, would you know what to do with it?
• Are there family keepsakes or traditions you’d be heartbroken not to have carried forward?
• If you had to step in to help us, what support would you need?

Bringing Up the Conversation

Timing and approach are key. Consider initiating these conversations during a quiet moment or a walk, rather than over the main meal. This helps keep the atmosphere relaxed and supportive.

The Gift of Clarity and Love

Discussing estate planning is truly a gift for your family. It offers peace of mind, reduces confusion, and prevents legal disputes later. If you feel uncertain about where to begin, or need guidance to navigate these conversations, don’t hesitate to reach out to a trusted advisor. Remember, estate planning is about love and care for the ones who mean the most to you.