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Why you should talk to your family about your will

| Aug 6, 2020 | Estate Planning

No one enjoys talking about death. Yet, you may recently have drafted a will, and you would like your family to know your intentions once you pass. Breaching this subject may be difficult. But wills are important to discuss, since transparency can prevent confusion and squabbling down the road.

Creating transparency

Many people are secretive about their will’s terms. Yet, talking with your family about them is a matter of good etiquette. Your discussion does not need to lay out exactly what each beneficiary will receive. But you will want to let your family members know the share of your assets that will pass down to them. Doing this can help prevent surprises upon your passing.

If you plan on leaving family members different percentages of your assets, you may fear having a conversation about your will. Your beneficiaries may have differing economic circumstances, and you might want to leave some a greater share. Explaining your reasoning can be difficult. Yet, it’s crucial to do during your lifetime, since it can help your family make sense of your choices.

Identifying decision makers

If you have named a family member as your will’s executor, you will want to inform them of their role. Letting them know can open the door to future conversations about the state of your assets and how they will discharge the position’s duties. Alongside your will, you might also have drafted a health care directive. This document will identify the person who you want to make decisions about your health in case you face illness or incapacitation. The directive also sets forth your intentions for treatments, as well as funeral arrangements. By discussing these issues with your family members, you can review what their duties may look like and ensure that they follow through with your wishes.

Talking with your family about your will may seem difficult. But by providing clear, specific information while you are alive, you will help reduce the chance of issues once you pass.

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