What should parents tell adult children about their estate plans?

One of the most difficult aspects of planning for the future is making choices that will affect family members long-term. This is one reason why many people delay making estate plans, or they don’t discuss their plans with their Louisiana families. While this may help avoid some awkwardness, there are reasons why it could actually be beneficial to discuss certain aspects of a plan with adult children.

What a Louisiana parent may want to discuss with the family depends on the dynamics of the family. In some cases, it may be possible to go into greater detail about the plans, while other families will not be able to handle that well. When there is already conflict in a family, there is a significant chance that conflict will continue when it is time to settle a parent’s estate.

It will be helpful for adult children to know who is in charge in case of an emergency. They should know who their parent named as medical power of attorney, as well as who will administer the estate after the parent’s death. It is possible to provide loved ones with information they need in case of incapacitation while still keeping certain financial details of a plan private.

Conflict and confusion can make it very difficult for a Louisiana family to settle a parent’s estate. Discussing certain details and preferences in estate plans can be quite useful in certain circumstances, especially in the event a parent cannot speak for him or herself. When deciding what to discuss with loved ones, it may help to first go over matters with an experienced estate planning attorney.