Should I Talk to my Children About my Will?
The simple answer, I believe, is yes! Talking to your children about your estate planning can help to avoid potential conflict and misunderstanding in the future…
Emotions often run high following a death and, unfortunately, it is not uncommon for loved ones to become distressed and argue amongst each other. Arguments can often be avoided if family members know what their loved one’s wishes are and what is to happen following their death.
It’s not an easy conversation to have, but here are some tips to help you to get it right:
• Choose the right time and place – somewhere neutral that is quiet and private often works best and make sure that everyone has plenty of time for the conversation, and that they are feeling relaxed and comfortable.
• Explain why you are having the conversation – have you had a health scare or are you simply getting your affairs in order.
• Set out what you wish to achieve with your Will and who you wish to be involved in its execution. Be open and honest with them and keep the conversation simple and easy to understand.
• Always talk about personal belongings and your wishes for these – it is often one of the biggest triggers for family fall outs.
• Talk about your funeral wishes – although a grim topic, your children will thank you for letting them know what you want. This is one less thing for them to worry about when you have gone.
• Be prepared to answer any questions that come your way and listen to any concerns your children have.
• If you make any changes to your Will, don’t forget to update the family.
Of course this advice is not a “one size fits all”. Many families have complexities or different dynamics and it may not be appropriate for you to discuss your wishes with your nearest and dearest – particularly if you are intending to disinherit them!
But, in general, talking to your children about your Will is an important step in making sure that your wishes are carried out after your death.
How Can Timms Help?
You should also always seek professional help with writing your Will to minimise the risk of things going wrong. If you have any questions or if you require more information, please contact me on 01332 364436 or at j.robinson@timms-law.com.
February 2024