The holiday season is approaching, offering a unique opportunity for family gatherings. If you’ve been contemplating discussions about financial matters, inheritance, end-of-life decisions, estate planning, and family wealth, having everyone together presents an ideal scenario. However, broaching these sensitive topics during festive occasions may not be appropriate.
To ensure a thoughtful and productive conversation, here are three tips to consider:
1. Share Your Intention Ahead of Time: Initiate discussions about financial matters well in advance. If you have regular interactions with your family, casually mention your thoughts about creating a plan for your finances and family care. Planting the seed early on can make the idea more palatable. As the family gathering approaches, revisit the topic with more intention, seeking input on the best time for a dedicated conversation. Address any concerns the host may have, ensuring everyone is prepared for a meaningful discussion.
2. Set Aside a Time and Place to Talk: Avoid discussing financial matters amid distractions like opening presents. Schedule a dedicated time for a focused conversation, clearly communicating the purpose to your family. Choose a comfortable and private setting to encourage openness. Share the context of why these discussions are important to you, emphasizing the potential benefits for family unity, resilience, and financial well-being. Set clear boundaries for the conversation’s duration, understanding that it is a starting point, not a final resolution.
3. Share Your Planning Experience: If you’ve already undertaken financial planning, share your experience with the process. Explain the ease of planning and the peace of mind it brings regarding the care of assets and loved ones. If you’ve worked with a professional, like our Personal Family Lawyer® firm, describe the support received and how the plan aligns with your unique wishes. Address any initial doubts or concerns you may have had and emphasize the positive outcomes.
Bringing Families Together:
Discussing money and estate planning is challenging but crucial. As your attorney, we can assist and guide you through these intimate conversations. Effective planning provides clarity and peace of mind, ensuring your assets are protected and your loved ones are cared for. Share our resources with your family and consider creating an estate plan before initiating these discussions.
If you’ve already created a plan with us, be sure to share our library of blog resources HERE with your loved ones. If you haven’t created your own estate plan, doing so before you talk with your family can help your loved ones be more open to the idea and can help them see the incredible benefit of planning from one of their own family members.
At Cheever Law, APC, we don’t just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love, starting with a valuable and educational Life & Legacy Planning Session. This will allow you to get more financially organized and make the best choices for the people you love. If you have already completed your estate plan, we will review that plan at your Life & Legacy Planning Session to ensure that it will work the way you intend and address any holes or gaps that may be present if circumstances have changed since you executed your plan.
To learn more about our one-of-a-kind systems and services, contact us or schedule a no-obligation 15-minute introductory phone call today.