One of the unfortunate truths about reaching an advanced age is the need to start making a definitive plan for the future. Certain undeniable facts have to be addressed, and you may want to start thinking about what kind of world you are leaving behind for your loved ones after you’re gone. Talking to your family about preparing for your death is not going to be easy, and they may find it painful, to say the least. An Omaha, NE, estate planning lawyer can help you through it.
Discussing Your Estate With Your Family
A frank conversation about your estate and how you plan to divide it up is crucial. Depending on whether or not you have already started to prepare your family for the inevitable, the conversation may be even more necessary. The last thing you want is for something bad to happen to you before you are able to finalize your estate plan. Then, the probate court will dictate the distribution of your assets instead of you.
There are many different reasons why an estate plan might change. Generally, people with assets to lose might update their plan after a marriage, a divorce, a birth, or a death. You may just want to update your estate plan if you have a falling out with someone and no longer trust them to be included. It’s entirely up to you and how you want your estate to be handled. In the event of a divorce, you may want to remove your ex-spouse as a trustee, as that won’t happen automatically.
A significant number of elderly people unfortunately pass away before they are even able to establish a reliable estate plan, let alone modify an existing one. Some people neglect it until it is too late to do anything about it, leaving the court to make significant life decisions for their estate that they should’ve been a part of. Many times, this happens because individuals are understandably reluctant to discuss their own mortality, especially with their families.
How to Take the Steps Towards Protection
Discussing your estate with your family does not have to be an unpleasant or morbid experience. It’s an important conversation that you need to have at some point. Your family should be made aware of your wishes, and including them in the estate planning process can make it feel less like preparing for death and more like working towards the family’s future. Having a solid plan can better prepare your family to execute your wishes. Here are some steps you can take:
- Include everyone. Many people may only consider the nuclear family when making life-altering decisions, but the family doesn’t always stop at your children. Depending on the closeness of your extended family, you may want to include cousins, uncles, aunts, grandchildren, and even close family friends in the overall estate planning discussion. You may be planning to distribute assets to a lot of different people. They should know.
- Choose the right moment. It’s important that you carve out a good amount of time to have this conversation. A complicated family discussion is not something you have on your way out the door. Make sure everyone is in the right headspace and available to talk. You may want to wait until a big family life changes, such as the birth of a child or a marriage. In the end, it’s your decision.
FAQs
Q: What Happens If I Don’t Have a Plan?
A: If you pass away without an established, legally enforceable estate plan, then it will be up to the court to determine how your assets are distributed. They may totally disregard your wishes and make sure your closest living relative inherits everything. This might be someone you detest and had intended to cut off. Without an estate plan to back up your feelings, the court will divide your estate in accordance with state law.
Q: Can You Change Your Estate Plan Whenever You Want?
A: Yes, you are allowed to update your estate plan whenever you want, as long as you remain mentally competent and fully understand the documents you are signing. Ultimately, your estate plan is a life plan designed by you and enforced by your lawyer. You are allowed to secure your family’s future in any you see fit, within reason. If you are concerned about anything, you should discuss it with an estate planning lawyer.
Q: How Much Does an Estate Planning Lawyer Cost in Nebraska?
A: There is no definitive way to tell how much an estate planning lawyer might cost in Nebraska. Everybody’s estate planning needs are unique, with every estate plan having its own factors that are going to determine how much an estate planning lawyer will charge for their services. If your case is particularly complicated, then your estate planning lawyer will likely charge you more for their services.
Q: Should I Include My Family in the Estate Planning Process?
A: Yes, it might be a wise idea to include your family in your estate planning process, especially if they feature heavily in your will or various trusts. You don’t want them to be unprepared when the day comes for your estate plan to be enacted. It is important for your designated beneficiaries and other family members to know what your intentions are, particularly your medical intentions.
Contact an Estate Planning Lawyer Today
Nobody ever likes talking about their own death, especially if you are of an advanced age and the reality of your future is starting to seem more and more inevitable. In those cases, having a solid estate plan in place can provide you with peace of mind that your intentions are going to be honored and your family is going to be taken care of. If not, your estate will be divided by the court.
At Stange Law Firm, we can give you the tools you need to build a strong estate plan and figure out how to distribute it fairly among your loved ones. Contact us to speak with someone about your case.
