How do you get your kids (who are adults) to take estate planning seriously? This is a common concern that plagues many parents. Sometimes the kids don’t understand the importance. Others understand the importance, but it is easy to fall into the trap of procrastination. There are work obligations, dance recitals, little league games, gymnastics, birthday parties, play dates, parent-teacher conferences. The list goes on and on. To put it another way: Life gets in the way of proper planning.
Unfortunately, regardless of circumstances, the problem remains. Not having a basic estate plan in place is a recipe for disaster.
So how do we communicate to your kids the importance, and actually get them motivated to plan? Here is what I have found successful…
- Explain how simple and efficient the planning process can be for them.
- Explain what happens if they don’t do the planning.
In our next post, we will start to explain these two strategies, but in the meantime, you should know that while everyone’s situation is different, that doesn’t mean that the planning process itself has to be difficult. Additionally, if the planning isn’t done, the consequences can be really dire. So, while it may be easy to procrastinate, this is one area where you definitely don’t want to wait and see what happens.
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