Atlanta Wills and Trusts Lawyer Offers Ways to Approach “Tough Conversations” With Mom or Dad

Atlanta Wills and Trusts Lawyer Offers Ways to Approach “Tough Conversations” With Mom or Dad

estate plans for aging parentsWhen meeting with a wills and trusts lawyer in Atlanta for the first time, many adult children realize that they have no idea where their parents stand in terms of having the right plans in place to protect their assets and wishes if something happens to them.

Do their parents have a will or trust and, if so, where are these and other important documents located? Should assisted living or nursing home care become necessary, what plans are in place to cover the costs? Will mom or dad even have enough money after these costs to carry them through retirement?

These are some very important questions that need to be asked, and an experienced Atlanta GA wills and trusts lawyer can steer you in the right direction. That being said, no matter how good your relationship is with mom or dad, the subject can be a difficult one to approach.

Perhaps the best place to start is timing. Holidays such as Christmas, Hanukkah and Thanksgiving are known to be stressful times, so you might want to avoid these occasions. Current events often present the perfect opening, as there is always some Hollywood legend or financial mogul who dies leaving a fortune for the heirs to squabble over.

Or, the personal experience of a friend or relative can be worked into a dialogue. “So-and-So’s mother was admitted to the hospital recently and no one knew where to find her important papers.” For the adult child who is doing estate planning of their own, it would only be natural to want to discuss their parents’ plans with them during this time.

For some families, several conversations over a longer period of time might be a better approach. No one wants to feel like they are being told what to do, and money matters are often emotionally charged conversations to begin with.

Remember, advance preparations are in the best interests of the parents, so that their wishes can be carried out upon death.  Be sure to communicate this from the start to avoid your parents shutting down or getting defensive about the questions you are asking.

Finally, don’t forget to include the topic of long-term care in your conversations with mom or dad.   While no one likes to think about the possibility of becoming disabled or incapacitated by something like a stroke or Alzheimer’s disease, it does happen and it’s something that must be planned well in advance for.  If you start early enough, an Atlanta wills and trust lawyer can help you put the right plans in place to ensure mom or dad’s wishes during incapacity are honored and that they won’t be forced to sell or give away all of their assets in order to qualify for state or federal assistance.

Are you now ready to help your parents put a rock-solid plan in place that ensures their end-of-life wishes are honored to the fullest?  Then be sure to call our Atlanta wills and trusts lawyers for assistance.  With the mention of this article (“TOUGH CONVERSATIONS”), you may qualify for a Georgia Family Legacy Planning Session ($750 value), at no-charge.  Simply call 770-425-6060 to find out more.

Check The Oil, Rotate the Tires, and Update Your Estate Plan, Says Marietta GA Wills Lawyer

Marietta, Cobb County (Atlanta) family estate planning lawyer Steve Worrall discusses how your estate plan is like a car and needs regular updates and maintenance. He also lists some key life events that might trigger the need for that review, like these:

•    You marry, divorce or separate
•    You or your spouse's health declines
•    Your spouse dies
•    Your value of assets changes dramatically
•    You have a change in business interests
•    You buy real estate in another state
•    You have a Birth or adoption
•    A Parent or relative becomes dependent on you
•    A minor child becomes adult
•    Federal or state tax laws change
•    You plan to move to a different state
•    Your successor trustee, guardian or administrator moves, becomes ill or changes mind
•    You change your mind about any of the above for whatever reason

Make sure your lawyer includes the costs for quick questions about your plan in the fee and that your lawyer offers a no-cost review of your plan at least every 3 years.