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How do you get your parents to start planning?

On Behalf of | Jul 16, 2024 | Estate Planning |

Life gets busy. The to-do list may seem never-ending, and the matter of planning for the future can fall lower on the list each day.

However, this is a trend that seems to be widespread. This past March, Forbes reported that there has been a significant decrease in estate planning among older Americans. You may worry if your elderly parents fall into this category. So, what can you do to encourage them to start making an estate plan?

5 steps to take to help parents on the path to planning

Of course, you cannot simply tell anyone what to do – especially your parents, no matter how old you are. However, an estate plan is an important tool for everyone.

If you worry about your parents’ future, it can help to:

  1. Get the rest of your family on the same page: If you have siblings, you may first want to speak with them about your parents’ lack of a plan and figure out how you want to approach the discussion. If all of you form a united front, it may encourage your parents to begin planning.
  2. Communicate your concerns: This can be a challenging conversation. You and your siblings may start small, sharing your worries if the topic comes up naturally. However, it is also helpful to have a purposeful, open conversation with your whole family.
  3. Be compassionate: It is not easy to think about the end of one’s life. That is one of the reasons so many people put off estate planning for so long. Be empathetic with your parents. It always helps to use “I” statements, to discuss your worries for them and everything they have worked to build.
  4. Ensure they understand the risks: While fear is not always a convincing factor, it is important to fully understand the risks of not having an estate plan in place. Health issues, family conflict and the distribution of assets in California according to intestate succession are just a few of the issues that are critical to be aware of.
  5. Make a plan yourself: Make a plan yourself: If you have not created your own estate plan yet, it may help to work on your plans first or at the same time. You, may want to share with your parents that you are working on your estate plan and that you are happy to share what you have learned or what you are learning from your meetings with your lawyer.

While fear is not always a convincing factor, it is important to fully understand the risks of not having an estate plan in place. Health issues, family conflict and the distribution of assets in California according to intestate succession (may require a probate proceeding and not at all what your patents had planned)  are just a few of the issues that are critical to be aware of.  A more serious issue that is often overlooked, you may be have to meet with attorneys to file a Petition for a Conservatorship during a parent’s life time to handle his/her assets as well as health issues during their incapacity,  which is extremely costly, because they did not have estate planning documents in place.

In the end, your parents must be the ones to take the steps to prepare their estate plan. Even so, you can ask them questions and share your concerns about protecting their futures.

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