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How to Discuss Estate Planning with Your Family during the Holidays

The holidays are going to look different this year due to COVID, but even though families may not have large in-person gatherings, they are still a time for family togetherness. The holidays are a time for celebration, spending quality time with loved ones, and exchanging meaningful gifts. We know that when it comes to your children, one of the greatest gifts you can give them is a legacy to continue when you are no longer around. In our practice, we work with families each day on matters just like this. Despite the many benefits of creating a legacy for your family, it can be a challenging discussion, especially during the holiday season. Here are some tips on discussing estate planning with your family. 1. Plan ahead. Preparation is important. Set time before talking with your loved ones over the holidays to seek the advice of an estate planning attorney. Schedule time for all parties to have the conversation, keeping in mind that the holidays can be a busy time. Think about what you are going to say, what your wishes are, and what you hope to achieve through the discussion. You may consider how you would like to structure the conversation, for example, whether you will bring any planning documents with you to show your children or supplement the discussion. 2. Be prepared to answer questions. Your family will likely have many questions, some of which you may not be prepared to answer. Try to think of questions your children may have. If questions arise that you are not equipped to answer, let them know that you hear their questions and concerns and will address them as soon as you have answers for them. This conversation may be overwhelming for your family if you have not brought up the topic before. Be prepared for a variety of emotions from your family. It is important that you validate their feelings, but stick to your wishes, and do not let those emotions sway you from your plan. 3. Do not hesitate to follow up. Whether your time with family is virtual or in person this holiday season, do not wait too long to check-in with your family after your conversation and follow up with questions you left unanswered. It is important to allow your family some breathing room to enjoy the remainder of the holiday season, process the information you gave them, and take time to think of additional questions they may have for you. We know this can be a difficult conversation to have with your family. If you questions or need some more advice about how to get started, do not hesitate to contact our office to set up a meeting or attend a webinar. At Dennis Sullivan and Associates, we help clients meet their goals and objectives through a unique process that combines both education and counseling. We hope you and your family have a happy and healthy holiday season. This is a paid advertisement by Dennis Sullivan & Associates
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