Estate Planning: A Holiday Gift of Peace of Mind

The holidays are a unique time, bringing together family members from different generations around the same table. It’s a season rich with shared meals, heartwarming stories, and cherished traditions. While these gatherings are filled with joy, they also provide a perfect opportunity to discuss the future, particularly estate planning—a conversation that can provide lasting peace of mind.

Although estate planning might be a delicate topic, addressing it during a quiet moment or a leisurely walk can prevent it from feeling like a formal meeting. These discussions are invaluable, as they help prevent confusion, legal disputes, and emotional turmoil later.

Stats to Consider

Did you know that nearly 55% of U.S. adults don’t have a will or estate plan in place? Learn more. Probate, when no clear plan exists, can consume 3–7% of an estate’s value and last for months or years. Read more about costs. A staggering 58% of families without an estate plan report disputes after a loved one’s passing. Discover more.

Estate Planning: The True Meaning

Estate planning is not solely for the wealthy or elderly. It’s about control, clarity, care, efficiency, and legacy:

• Control – Deciding who will manage your finances, healthcare, and estate.
• Clarity – Ensuring your loved ones understand your wishes.
• Care – Protecting children, dependents, or pets.
• Efficiency – Avoiding needless probate costs, taxes, and delays.
• Legacy – Passing down assets, values, and family stories.

Questions for the Generations

Adult children can ask their parents:

• Do you have an up-to-date will or trust in place?
• Who have you chosen to make financial and medical decisions if you’re unable to?
• Have you shared your wishes for medical care and end-of-life planning?
• If something happened tomorrow, would we know where to find your important documents and accounts?
• Are there heirlooms or traditions you’d like us to know the stories behind?
• Do you feel confident that the people you’ve chosen to handle your affairs are still the right ones?

Parents can ask their adult children:

• Do you know where to find my important documents in case of an emergency?
• Have you considered creating your own will or an estate plan?
• If you received an inheritance tomorrow, would you know what to do with it or who to turn to for help?
• Are there family keepsakes or traditions you’d be heartbroken not to have carried forward?
• If you had to step in to help us—financially or medically—what support would you need?

Empowerment Through Planning

Framing estate planning as a gift makes the conversation easier. It’s about caring for the people you love and lifting future burdens. If you’re unsure where to begin or need help navigating these conversations, consider reaching out for guidance from a trusted advisor. Remember, estate planning is not just about assets; it’s a legacy of love. By discussing these matters now, you can ensure peace of mind for years to come.