California is a place full of many happy families enjoying life. With that said, an important part of life is talking about potentially uncomfortable topics with your parents. As your parents are getting older, it’s imperative to know they have estate plans in place. Here are three reasons why it’s time to chat about estate planning with your parents.
A plan for your parents’ assets
The main reason your parents need estate plans is for their peace of mind. Your parents likely worked hard to get the assets they’ll eventually leave behind. Considering that, your parents wouldn’t want any uncertainty surrounding who receives these assets after they’re gone. Creating a plan for your parents’ assets make sure that doesn’t happen.
Less stress among beneficiaries
Estate planning makes life easier for someone’s beneficiaries, who are likely going through an already difficult time after the loss of a parent. Talking to your parents about estate planning helps prevent their assets from going through probate court. With an estate plan, beneficiaries also don’t have to argue about who receives their parents’ assets.
Peace of mind for your parents
As your parents continue aging, they’ll have concerns of their own to focus on. By helping them create estate plans, that’s one less thing for them to worry about. With estate plans already in place, your parents can spend more time enjoying their golden years with you and your siblings.
In conclusion, there are a few important reasons to talk about estate planning with your parents. Your parents don’t need to be millionaires to benefit from the security that wills and trusts provide. So, find the right time and talk with your parents about estate planning soon.