Do not avoid the topic of your death.
You may think you are protecting your loved ones by avoiding the topic of your death.
You may prefer to keep conversations light and fun.
You may think you are helping them.
According to a recent MarketWatch article titled “Breaking the taboo: How to prepare your heirs for your death,” you are actually doing them a disservice.
After the death of an individual, families are at risk for losing peaceful relationships and financial assets.
More often than not it is a simply a case of "unprepared" heirs.
This can breed distrust and disrupt communications.
How can you help?
Educate your heirs on the locations of your financial assets and estate planning documents.
Explain your wishes regarding incapacity and end-of-life care decisions.
Your family should understand your wealth, wishes, and values to discourage resentment.
Work with an experienced estate planning attorney to protect your loved ones through proper estate planning, especially when they are grieving and emotionally vulnerable.
Reference: MarketWatch (March 7, 2019) “Breaking the taboo: How to prepare your heirs for your death”