Including Young Adult Family Members in Estate Planning

Many families avoid discussing estate planning and end-of-life decisions with the young adults in the family either out of a belief that there will not be enough left by the time the end comes or simply because it is difficult to talk about such topics. Here are some tips on having the difficult estate planning talks that are often dreaded:

• Ask questions. Find out what possessions, such as family heirlooms or interest in a family business, the younger members of the family are really interested in.
• Give permission. Let those that will going through the piles of possessions that it is ok to sell or dispose of unwanted items.
• Locations and Names: Children should know who will be performing estate administration tasks and where all estate planning documents are located.
• The pre-talk. Estate planning and end-of-life discussions should not come as a surprise to the children, but rather the discussion should be planned and the topic disclosed in advance.

See Elizabeth O’Brien, Estate Planning: It’s Never Too Early to Start, Market Watch, Dec. 22, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.