Although drafting your estate plan is a personal matter, if you are married, you need to discuss it with your spouse, as its provisions will affect them. But how can you hold the conversation effectively to ensure you are on the same page?
Here are four tips that can help you:
1. Choose the right environment
Your spouse should be comfortable when discussing matters regarding your estate, incapacitation and death. Thus, have the conversation in a private and quiet setting, such as their favorite spot in the family home. When they are safe and calm, they may be more open to participating in the discussion.
2. Choose the right time
You don’t want to start an estate planning discussion when your spouse is handling other things. Choose when they are relaxed and can give you undivided attention.
Additionally, assess if your spouse is ready for the estate planning conversation. If you have already had crucial discussions regarding your finances, futures and so forth, your family may be ready to discuss a will, trust, guardian, power of attorney etc.
3. Be ready to tell them everything
The estate planning discussion you hold with your spouse may differ from that with other parties, including beneficiaries and the professionals you work with. With your spouse, you may need to tell them everything. They may need to know your specific wishes, the location of your documents, the parties you appoint and so on.
4. Focus on the benefits
Estate planning topics can be challenging – emotions may arise. Focusing on the benefits of having an estate plan can help you have a smooth conversation.
Not knowing how to raise the estate planning matter with your family can lead to misunderstandings. Obtain more information to determine the best way to inform your spouse about your estate plan.