Estate Planning-How To Ease Your Kids Into It

Do you ever sit down and think about what will happen to your kids if something unexpected happens to you? It’s a scary and overwhelming thought.

As a parent, making sure that your children are taken care of in the event of an unforeseen circumstance is likely one of the most important tasks on your list. 

But having conversations with your kids about estate planning can be uncomfortable and difficult. 

You might not know where to start or how to broach the subject - don’t worry you’re not alone!

Here’s a few ways to help ease them into it.

Where Should You Begin?

You have to make sure that your children understand how estate planning works and what it means for them. 

Start with a Conversation

The first step to easing kids into estate planning is to sit them down and have a heart-to-heart conversation. 

It's best to explain the importance of estate planning in a way that they can understand. 

You can talk about how estate planning can help protect their future and ensure that their needs are taken care of when you're no longer around. 

Depending on your child's age, this conversation might be a bit overwhelming for them, so take it slow, be gentle and give them time to ask questions.

Make it Fun for Them

One way to get your kids excited about estate planning is to make it fun for them. 

For instance, you can let them pick their own guardian or trustee or have them participate in making a family trust. 

You can also involve them in the decision-making process and let them know that their opinions matter. 

Give them a voice, it'll make them feel empowered and secure about their future.

Educate Them on the Basics

It's essential to educate your kids on the various aspects of estate planning. 

You can start by explaining terms such as beneficiaries, executors, will, power of attorney, and trust in a way that they’ll understand. You can also discuss the probate process and how it can be avoided. 

The more informed your kids are about the different aspects of estate planning, the better prepared they'll be to make informed decisions about their future.

Protect Them From Unintended Consequences

Another important aspect of estate planning is protecting your kids from any unintended consequences. 

For instance, if you have a blended family, you'll need to clarify who will inherit what. It's also vital to protect your children from any unexpected events such as bankruptcy, divorce, or lawsuits. 

The best way to do this is to set up a trust that'll help safeguard your children's inheritance and assets from any creditors or lawsuits.

Estate planning can be a complicated process, and it's best to seek professional help.

A qualified estate planning attorney can help you navigate the various legal and financial intricacies of estate planning. 

They can also help you determine the best estate planning options for your family and ensure that your wishes are carried out. 

Need help? Contact our office today and rest assured that we will help you take all the right steps to protect and secure your kids' future.

DISCLAIMER: The content contained herein is for general informational purposes only.  These materials do not constitute legal or other professional advice.  We do not accept any responsibility for any loss that may arise from reliance on this information.  No reader should act or refrain from acting based on information contained in this article without seeking advice of counsel.