With the holidays coming up right around the corner, now is the time to talk to you parents about an estate plan if they don’t already have one.
Hi there, Bridget Mackay here. I’m an attorney in Petaluma, California working in estate planning and elder law.
And today I want to talk about, as the holidays are coming up. Talking to your aging parents about setting up an estate plan. Did you know that according to AARP that 60% of people do not have a plan in place? And plan is used generally. So, that means not even a will or a trust.
So my guess is, even fewer of them have a trust in place. And, why is that so? I think largely, it’s because people procrastinate and they’re afraid to talk about some of those issues like incapacity and death.
So, as you head into the holiday season with Thanksgiving and Christmas coming up. This may be a good time to bring up that topic when the families around. Your parents, if they don’t have a plan are feeling good about having family around. Because really, the most loving thing you can do for your family is have a plan set up. Because, if you don’t then even though you may be dead or incapacitated and not knowing what’s going on. Your loved ones are the ones that are having to handle things, like your health decisions, making sure your bills are paid. Worst case scenario if you’ve passed away, having to go through court with a probate and disperse all of your assets which is costly, takes time and it’s stressful.
So, if you have one number one goal when you go to meet your family for the holidays is of course to enjoy everybody. But I think if, if it is a topic you have been wanting to discuss, it’s one of the best times to bring it up. Surprisingly.
If you have some questions about how to bring it up or what. Want to know more about a will or a trust. You can feel more informed when you talk to your parents. Get in touch with a qualified estate planning attorney and find out the details.