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Helping your parents to plan their estate

On Behalf of | Jun 21, 2022 | Estate Planning

Talking with your parents about subjects that involve their mortality can be an awkward experience. But if they have not yet completed their estate plan, you may need to bring it up. Having an estate plan in Alabama is a wise idea. This is the best way to make sure that all of their assets end up in the right place.

All parents need to make an estate plan

Estate planning is the method people use to ensure that their money and other assets are distributed to their heirs in the manner they prefer. If your parents are still with you, now is the time to talk about this plan. You can schedule an event where you and your siblings can sit down with your parents. The time is now to discuss these matters before it’s too late.

The talk that you have doesn’t have to be overly intense. You can use this time to bring up certain key subjects. The point is to have a good idea of what you can expect to receive once one or both of your parents have passed. This is knowledge that you need to have a handle on in order to plan your own future.

During your talk, you should bring up such subjects as healthcare surrogate and power of attorney designations, You need to have a good idea of who will be chosen to fulfill both of these crucial roles. You should also encourage your parents to sit down and create their living and last wills before they pass on.

The time to prevent legal hassles is now

There are plenty of questions that your parents will need to have answered when making an estate plan. You need to assure them that they are not alone. The time to sit down with them and help them to hammer out these sensitive questions is now.

The sooner you do so, the sooner you can have peace of mind. It’s a good thing to know that all of the relevant estate issues have been taken care of well in advance.

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