Speaking about one’s own mortality can be a difficult conversation to have. No one likes to consider what life will be like after he or she passes away, but it is important for every adult to think about the future and make appropriate plans. Through estate planning, each adult can create a strategy that will allow him or her to decide what happens to personal assets and what types of medical care is preferable in the event of incapacitation.
As uncomfortable as it may be to discuss these matters, they are important. By talking about plans and preferences, families will be in a better position to navigate estate matters and advocate for the needs of their loved one. If you have not discussed your plans and preferences with your family, there are many benefits to doing so.
Prepping for a difficult conversation
You know that it can be difficult to consider what will happen if you are unable to speak for yourself or what will happen to your possessions in the event of your death. These are complex matters to address, and the decisions that you make for yourself when creating your estate plan are deeply personal and important. Some reasons why you may want to have this conversation include:
- Your loved ones will have the power to make decisions on your behalf that align with your preferences.
- It will allow you to explain your motivations behind certain decisions, which could reduce the chance of complications and disputes between heirs.
- By knowing what is ahead, your heirs and beneficiaries will be able to make beneficial tax-related decisions for themselves.
Due to the sensitive nature of this conversation, you may benefit from thoughtfully planning when and where to have it. It should be somewhere private and comfortable, and it should occur at a time when positive and respectful conversations can take place.
Start with a strong foundation
Positive conversations about estate plans start with a strong estate planning strategy. If you do not have a plan or need to update an existing plan, you may benefit from the knowledgeable counsel of an experienced professional. This can help you create a plan that will allow you and your New Jersey family to look to the future with confidence.