This year, Thanksgiving will look different for some of us. Whether you’re gathering around the table in person or via Zoom, Thanksgiving is a great time for families to discuss their accomplishments and their future plans.
Your estate plan should be part of this conversation. While some people may dread this conversation, at J|G Law, we strongly believe that this is just part of “planning the future your family deserves” (tm). The sooner you have this conversation, the better off everyone will be, as everyone will know what to expect in the event of an emergency or something unexpected.
Some things you may want to discuss:
Does everyone at the table have an Estate Plan? If so, does it include at least a Will, Medical and Financial Power of Attorney, and an Advanced Directive? When is the last time the Estate Plan was updated?
If Mom and/or Dad have an Estate Plan, do all of the children know what the plan is? Have Mom and/or Dad explained that Suzy is the executor and financial power of attorney, but Johnny is the Medical Power of Attorney? Do all the kids know that Mom and /or Dad do (not) want prolonged life support and how they hope that the kids follow this wish?
If someone doesn’t have an Estate Plan, have they talked to an attorney about putting one in place?
What happens to the (minor or incapacitated) kids if something were to happen to mom or dad?
The goal is to make sure that everyone understands their family member’s wishes. This helps to give everyone peace of mind during stressful times of emergency, grief, or loss.