When you reach a certain age, there are many important things you might want to start thinking about, just for the sake of making sure you protect yourself and your loved ones. Talking to your kids about your eventual death is not an easy subject to approach. For obvious reasons, your kids can find such a discussion painful and difficult to grasp. It’s necessary to have a frank discussion about your estate with a Columbia, MO, estate lawyer’s help.

Talking with Your Kids About Your Estate Plan

Depending on how much you may have prepared your kids for the future and how solid your relationship with them is, a serious discussion about your estate and your wishes may be crucial and unavoidable. If something unfortunate were to happen to you before you were able to establish an estate plan and tell them what parts you need them to play, the court may be in full control of how your assets are distributed, and it can often be against your wishes.

An estate plan can change for many different reasons, such as a divorce. In that case, you may want to remove your ex-spouse as your trustee because they will automatically be removed from inheriting anything from your will. Many times, it is changed intentionally by the one who started the plan. You should ensure that your estate plan has an administrator chosen by you, and your adult children may be good candidates to make sure your wishes are met accordingly.

Many elderly people pass away without any sort of plan in place. They may neglect to make one until it is too late to do so, or they may never update something they made decades prior. Understandably, many older people find it morbid, unsettling, or just plain spooky to talk about their own death and what comes after. The last thing they want is to discuss such a topic with their kids. If you don’t do it, you could jeopardize your family’s inheritance once you pass.

Taking the Proper Steps for Protection

There’s no law that says discussing an estate plan with your children has to be an inherently unpleasant or difficult experience. Having a sound plan in place for your passing can make things go better when it does happen. You can help your kids know what to do at a time when they may be floundering, confused and in desperate need of guidance. Here are some good steps you can take to protect your plan and make sure your wishes are met properly:

  • Include the whole family. Family does not always end with your children. You may want to include aunts, uncles, cousins, and even grandchildren in this discussion, particularly if you have a significant estate that is going to be distributed to a lot of different people. Showing a display of family unity can make it easier to talk about difficult subject matter and can stop feelings of distrust or misplaced loyalty from bubbling to the surface.
  • Pick the right moment. This is an important discussion. You should make sure you pick the right moment to discuss it. If all of your kids are not available or somebody is in a bad mood, it might not be the right time to have such a complex family discussion. Some people like to wait until a significant life change has occurred, such as a new birth or a divorce. Ultimately, it is up to you to choose how you have this discussion.

FAQs

Q: Should You Speak to Your Kids About Your Estate Plan?

A: Yes, you absolutely should speak to your kids about your estate plan. The last thing you want is for them to be caught unprepared when the day comes. Your kids should know what your wishes are and who you intend to name as your plan’s executor after you pass away. Giving your family a layout of everything they need to know can make things easier for them when they lose you.

Q: How Much Does an Estate Planning Lawyer Cost in Missouri?

A: There is no sure way to tell how much an estate planning lawyer is going to cost in Missouri. Everybody’s estate planning needs are different, as every situation has its own set of circumstances and important details that cannot be overlooked. The more complicated the case is, the higher the likelihood of your lawyer fees being significant. Your lawyer’s fee will largely be influenced by their availability, resources, education, and experience.

Q: Can You Change Your Estate Plan Whenever You Want?

A: Yes, you can change your estate plan anytime you feel like changing it. The only stipulation is that you must be mentally competent and not modify anything under duress. It is your own life plan and your way to secure your family’s future once they lose you. You are completely within your rights to change it as you see fit whenever you feel it is necessary to do so. You may want an estate planning lawyer’s help, though.

Q: What Happens to My Estate if I Don’t Have a Plan?

A: If you pass away without a straightforward, legally enforceable estate plan, the future of your estate will likely be decided by the Missouri court system. Unless you leave behind a last will and testament, your wishes may be largely ignored. Your estate will likely be subjected to the state’s intestacy laws, and it will most likely be your spouse who inherits everything. If you have specific wishes, you must draft an estate plan before your death.

Reach Out to an Estate Planning Lawyer Today

Nobody likes talking about what happens when they die, but if you are an older person, it may be time to start discussing your intentions with your family. Your kids should know how to handle your estate when the time comes. Otherwise, the court will decide what happens, and your family could be left unaware of what to do. The legal team at Stange Law Firm understands how to help you figure out a plan for your estate. Contact us to speak with a team member about your case.