Thinking about the future can create mixed feelings for you and your elderly parents. They may not yet have any plans for how to manage their properties and assets after death.
A critical part of giving away heirlooms and ensuring that their assets go to the right people is writing down their exact wishes. Finding a respectful way to talk about this subject can help you both.
Pick the right time
According to Kiplinger, choosing a stressful time of year or month to begin discussions can lead to a rough start. When first introducing this subject, make sure to also not wait too long.
Some elderly people could show signs of physical and mental issues suddenly, which can make it hard to have a personal talk. Even if they do not have any significant health problems, being proactive about estate planning can help them feel at ease.
One major benefit of crafting an estate plan is cutting down on potential family conflicts. If your parents want to include your siblings in discussions or need extra time to think about what to add, make sure to listen to their wishes.
You may learn more about what your parents want or need, including ideas you had never thought of before.
While talking, be consistent about writing down what topics you all cover and what conclusions you come to for future reference. You will likely discuss these ideas multiple times, so having a record of what your parents say can be helpful when you worry you forgot something.
Estate planning may seem scary at first, but it does not have to be when you plan ahead.