Every adult should have a will in place. With that said, many put off estate planning until the last minute or, in some cases, they only start thinking about a will after it's too late. If your parents, regardless of their age, don't yet have a will, it can be helpful to have a serious discussion with them about the importance of this crucial legal document.
How to Explain the Importance of a Will
1. Confirm That Their Wishes Will Be Honored
Most people have certain ideas about how they want their estate divided upon their death; what types of end-of-life medical care (in a Health Care Proxy) they want, or don't want, to receive; and what types of funeral arrangements they'd prefer. Let your parents know their will lets them make all of these plans and allows them to state clearly what their preferences are. And, a will makes those wishes legally binding as well.
2. Discuss the Emotional Component
It can be difficult to talk about emotions, especially with one's parents. But losing them would be a huge blow and a trying emotional process to navigate. During such a vulnerable time, dealing with the legal details of an estate can be overwhelming. Tell your parents how such a scenario would make you and your other family members feel. By leaving a will, your parents will eliminate a lot of guesswork and remove some of the stress surrounding the settlement of an estate.
3. Help Them Understand Their Estate Planning Options
There are other types of estate planning documents that can be drawn up in addition to a will. Help your parents understand that there is more than one option to protect their estate and their family. Along with a will, they can explore living trusts, powers of attorney, and health care proxies. When they know their options and the benefits of each, they will undoubtedly be more open to the idea of drawing up the paperwork that safeguards their family and their legacy.
To start designing a will, contact We the People of NY. They offer New York City residents a variety of legal services and support in drafting various kinds of legal documentation. Call (212) 633-2200, visit them online, or message them on Twitter today.