Family gatherings can be excellent times to discuss estate planning concerns. Topics addressed might include which family members want personal properties and who you will appoint as executors or decision-makers. Additionally, family meetings can be good times to develop family histories and preserve your legacy and story. Learn more from Max Alavi APC, OC Trusts Lawyer:
Include a Family Meeting in Your Next Family Reunion
Summer will be here before you know it, and with it, the opportunity for large family gatherings. Whether you’re heading to the beach or simply congregating around the barbecue pit, family reunions can be loads of fun. As you plan this year’s gathering, however, you may want to consider scheduling a little time to discuss business. Specifically, family reunions can be significant opportunities to talk about estate planning.
What to Talk About at Your Family Meeting
The specifics of the meeting agenda may vary from family to family, but here are a few of the most common estate planning topics to discuss.
- Discuss Who should be appointed as a decision-maker. Your estate plan should include the names of people you trust, named to serve as your estate’s executor or power of attorney. You may wish to inform your family about which people you’ve selected to make financial or health-related decisions on your behalf and also to provide your rationale.
- Discuss your end-of-life wishes. It’s helpful to provide your loved ones with clarity about what you wish them to do should you ever be placed on life support or become medically incapacitated. The person named as your healthcare decision-maker must know what your wishes are.
- Discuss the assets people want. Family meetings can also be good forums for people to express their wishes to receive a particular piece of furniture, jewelry, artwork, or family heirloom. You may be surprised to learn which items family members have emotional attachments to. Also, talking about these items in advance helps reduce the chances of hurt feelings or disappointment, particularly in cases where two people might desire the same thing.
- Your family history. Another reason to hold a family meeting is to discuss favorite memories, write them down, or even take some videos. This is a great way to preserve your family’s story and legacy beyond tangible assets and personal properties.
OC Trusts Lawyer Assists Families with Estate Planning Complexity
Max Alavi APC, OC Trusts Lawyer, has a proven track record helping families navigate estate planning complexities, ensuring all family members are on the same page about asset allocation and other vital issues. To further explore your estate planning options, schedule a consultation today.
