The pandemic has brought a seismic shift in culture in a myriad ways, and one recent change is an increased focus on estate planning. This post shares some ideas from a Yahoo! Finance article which suggests how Millennials can broach the perhaps awkward topic of estate planning with family members. And for Millenials themselves, recent research published by Trust and Will shows that Millennials (spurred on by Covid-19 concerns) are increasingly focused on creating an estate plan for themselves as well with trends toward creating guardianship plans for their pets and charitable contributions to causes that Millenials care about. See https://finance.yahoo.com/news/millennials-time-talk-estate-planning-150019404.html and https://www.prnewswire.com/news-releases/first-study-on-millennial-estate-planning-finds-surge-in-wills-due-to-the-pandemic-301221748.html
Get Started on Estate Planning with David Knecht Law Consultation
Whether you need estate planning advice for yourself or loved ones, at David Knecht Law, we are here to guide you and help create the right plan for our needs. If you are wondering how to bring up the topic with your spouse, parents, or children, here are a few helpful suggestions from “Millenials: It’s Time to Talk Estate Planning with Your Parents.”
- The “Asking for Advice” approach.
One potential approach for bringing up the perhaps awkward topic of estate planning is the “asking for advice” approach. For example, if you are married, you could approach your parents and ask how they decided power of attorney or health care proxy. This could open the topic for further discussion and follow up.
- The “Due Diligence” approach.
Another method for opening a discussion about estate planning is to make a list of documents that you do have and bring that list to the loved one for discussion to highlight where you are strong and where you need to dedicate more due diligence. Perhaps some estate planning was completed long ago but needs to be updated or perhaps you have yet to begin. An organized and methodical discussion may be appropriate to spur action.
- The “Direct” approach.
The direct approach may be the most effective for some loved ones, where you begin by sharing your concerns with the goal to persuade but not bulldoze. Here, and offer to set up a consultation with an attorney may be well-received, as you would be taking the initiative to set it up but allow the loved one to ask questions and consider the information presented by the professional before they have to decide whether to move forward with establishing an estate plan.
Regardless of how you present the estate plan idea to loved ones, the Law Office of David Knecht, at 707-451-4502, is here to provide accurate information in a respectful manner. Give us a call today for a consultation on how to create the right estate plan for you.
