Posted August 29, 2023
Neuberger, Griggs, Sweet & Froehle, LLP covers estate planning discussions with your parents
Watertown, USA – August 29, 2023 / Neuburger Greggs Sweet & Frohl, LLP /
Estate planning discussions with your parents often cause a lot of anxiety. Conversation can be uncomfortable, even between families who have close relationships. For most people, discussions about death are depressing, and some families find the topic blunt because it centers around money and possessions such as jewelry or other family heirlooms. After all, if you have always enjoyed a close relationship with your parents and siblings, shouldn’t that relationship affect the handling of the estate after their death?
Neuberger, Griggs, Sweet & Froehle, LLP has been providing estate planning services for many years. In that time, the company has seen expectations of consistency in dealing with real estate have been proven wrong time and time again. Issues like old grievances, money problems, justice according to birth order, and who bears the most responsibility often lead to serious arguments. Therefore, you should discuss estate planning with your parents, and perhaps you should take a look at your own affairs so that the same thing does not happen to your partner and children. if you need Estate planning in Watertown, WisconsinContact Neuberger, Griggs, Sweet & Froehle, LLP. Here are some tips for discussing estate planning with your parents.
Discuss estate planning with your parents
Instead of bringing it up all of a sudden, ask your family members to get together to discuss it. This request prepares everyone for discussion. It allows people to consider their opinions and how to express them. Also, make sure the time and settings are working. Asking to discuss the estate at an anniversary party or wedding indicates inability to judge. It might piss people off during a supposedly celebratory time.
Explain to your parents that the survivors named on the estate as executors or trustees should be willing to take on this responsibility. The people named in the roles must not only be willing to perform them, but must also understand what each role entails and be able to perform those responsibilities. These decisions require a frank discussion about availability and capacity. A sibling with a complicated home life may not be the most effective choice for an enforcer due to the busy work involved in this role. A brother who lacks great wealth management skills may not be the best choice for trust management. These considerations seem harmful, but they are necessary to protect property and survivors.
Estate planning seeks to protect and extend the wealth of loved ones. Achieving this requires candid discussions and honest assessments. It may make sense to have someone outside the family manage these roles, especially if you are an only child with a busy life and your parents prefer to hire a professional third party such as a bank, company trustee, or attorney to manage the trust.
Contact Neuberger, Griggs, Sweet & Froehle, LLP for your estate planning needs
If you need An estate planning law firm in Watertown, Wisconsin, Contact Neuberger, Griggs, Sweet & Froehle, LLP. The company handles several properties each year and believes that estate planning is an ongoing process that takes into account wealth and life events as they transform. Schedule an initial consultation with Neuberger, Griggs, Sweet & Froehle, LLP to find out more.
Neuburger Greggs Sweet & Frohl, LLP
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Contact Neuberger Griggs Sweet & Froehle, LLP