After losing a spouse or longtime partner, it's difficult to look past your grief. However, it's crucial to understand the important and timely decisions you must make regarding your finances and personal estate plan.
Have you talked to your parents about their estate plan? Do they have one? If they do, do you know what it is and where to find the information? Do you know what attorney drafted his/her will?
If the answer is “no, my parents haven’t done any planning” – please continue reading……
I get it. Talking about death can be uncomfortable and sad. Thinking about your parents passing away – even worse. Couple that with the topic of your parents’ money situation….well…I can understand the natural inclination to avoid that conversation. But, the reality is – death is inevitable. Your parents’ money will eventually get to you. Its a matter of how it gets to you, how much stress it causes you and the expense of doing it that your parents can control . I encourage you to bring this topic up with your parents at the next opportune moment. Getting their estate plan in order will give you and your parents peace of mind.