How to Have "The Talk" About Estate Planning with Your Parents

Find the Right Time and Setting. 

Approach it with Care and Empathy. 

Instead of saying, "We need to talk about your will,” try: 

• "I want to make sure we're prepared as a family if anything happens.” 

• "It's important to me that your wishes are honored – can we talk about how you'd like things handled?” 

Ask Open-Ended Questions:

• "Have you thought about how you'd like your estate handled?" 

• "What matters most to you when it comes to your legacy?” 

• "If something were to happen, how would you want us to handle things?" 

Discuss the Essentials: 

• Will 

• Trusts 

  • "Have you considered setting up a trust to protect certain assets?" 

  • "Would you want to make sure certain funds are distributed over time rather than all at once?" 

  • "Would a revocable or irrevocable trust make sense for you?" 

  • Many people don't realize how flexible and powerful trusts can be for protecting assets and reducing tax burdens. 

• Estate Taxes 

  • Depending on your parents' estate size, estate taxes could significantly reduce the amount passed on to heirs. 

• Power of Attorney 

  • Have they appointed someone to make financial or healthcare decisions if they're unable to? 

• Healthcare Directives 

• Beneficiaries 

• Executor/Trustee 

• Offer to Help 

• Keep the Conversation Going

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This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship. 

For more information on this and other topics, please contact Kevin via any of the channels listed below:

📧 kevin@kmckernan.com  | 📞 718-317-5007