Estate Planning
WealthCounsel, LLC
November 28th, 2023
Comprehensive estate planning requires careful thought and conversation with your spouse or life partner. Before meeting with an estate planning attorney, it is best to discuss your ideas to present a united goal.
This conversation can be challenging. You and your partner may have different points of view about your future and the legacy you plan to leave behind. Suppose you have a blended family; how do you decide together to provide for them? Take your time as you navigate such emotional topics as your mortality and fairness to your children. You and your partner may have a great deal to process.
First, you must decide what elements in an estate plan are most important to you. Once you have a clear idea, you can readily communicate your needs and identify avenues of compromise. At the start of your discussion, state some clear objectives to promote a positive and productive conversation.
It can be uncomfortable for some couples to broach the weighty topic of estate planning. However, having these conversations is a crucial step toward securing your future together and your family’s legacy.
Choosing the right time and place for a serious conversation can lead to a positive discussion. The best circumstances for a talk are different for each couple. Be sure you aren’t amid unfinished chores or lots of activity that can sidetrack your estate planning intentions. In some cases, your partner may seem resistant to planning for the future. Explain why you believe estate planning is a crucial step in protecting yourselves and your family.
Take some general notes and stay open to your partner’s or spouse’s perspective. Do your best to avoid being judgmental. If the meeting begins to focus on how you disagree, take a break. Give yourself some time to reflect on those issues and revisit the topics when frustration levels are lower.
A qualified estate planning attorney will understand the best way to structure your estate. They are also a neutral third party and so may be able to help resolve some sticking points later. Continue to focus on the areas where you can agree.
If you already have an estate plan in place, don’t forget the importance of reviewing your documents.
You should do this every couple of years or when family circumstances change surrounding births, deaths, marriage, and divorce. If there are substantial financial changes, it is also wise to review how you plan to address these ups and downs.
