New Jersey residents could benefit from having an estate plan for many reasons. Still, it is not unusual for people to put off planning or even decide that they do not need a plan at all. While creating an estate plan certainly is a personal decision, you may feel like your older loved one should put more thought into the idea of creating this type of plan.
If you do feel this way, you are not alone. It can often come down to younger loved ones encouraging an older family member to create a plan before he or she gives it any real thought. Perhaps you have even tried to bring up the topic before only for him or her to brush off the idea of needing one because your loved one does not have many assets or for other similar reasons. However, any adult could benefit from having a plan.
How can you encourage your loved one?
If you believe that it is worth bringing up the topic again, you may want to go into your discussion with some strong points as to why your loved one may want to reconsider making an estate plan. Some tips to think about working into your discussion include:
- Remind them that even though they may not have a considerable amount of wealth, it is still important to appoint beneficiaries to certain assets. You may also want to remind your loved one that he or she can carefully decide who should be named to beneficiary roles.
- Bring up how having a plan in place could bring a sense of relief and peace of mind to your loved one as well as you and other members of the family. You may all feel better knowing that your loved one has left instructions for important situations, such as medical care in an emergency or asset distribution after his or her passing.
- Be honest about why you think it is a good idea for your loved one to plan and listen to his or her reasons for possibly feeling hesitant. Together, you may be able to see from each other’s perspective and potentially find ways to compromise if necessary.
Estate planning can be an emotional journey for anyone, and sometimes, the process can feel complex, confusing or frustrating. Fortunately, with the right support from family members and professionals, you may be able to encourage your loved one to create a plan that suits his or her wishes.