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Discussing finances with your spouse can be uncomfortable, especially when you aren’t on the same page. However, having open conversations about your estate plan is crucial to protecting your children, wishes, and legacy. Here’s a guide to why these discussions are essential and what topics to cover. 

Why Is Estate Planning Important? 

Whether you have a stock portfolio or own a vacation home, an estate plan will ensure that your assets go to the beneficiaries you designate. Without a trust or will, your property and money can get held up in probate for years and may not go to your heirs. 

For parents of young children, having an estate plan is especially important. It’ll allow you to name guardians who will raise your kids if you and your spouse pass away unexpectedly. Without a will, the courts will decide who’ll care for your children.  

What Should You Discuss With Your Spouse? 

First, discuss the guardianship of your children. Who can you trust to raise them? Make a list of potential guardians, keeping in mind who’ll be the best fit for your kids. Choose a couple who is loving, responsible, and trustworthy. 

Next, designate beneficiaries, and divide up your assets. Create a list of all of your items, bank accounts, and properties, making it clear who will receive what. 

If you have enough money to give away, discuss charitable giving opportunities. Are there any non-profit organizations you both care about? Your estate planning attorney could create a charitable trust or make your wishes clear in the will.   

Lastly, discuss your end-of-life-wishes and funeral plans. If you can’t express your wishes due to a health problem, you’ll want your spouse to know your wants and needs. Planning your memorial service and funeral now will lighten the burden on your loved ones should you pass away. 

 

When you need a reliable estate planning attorney, contact Nelson C. Keshen, P.A. Serving Miami, FL, Attorney Keshen has worked with individuals in the area for over 40 years. He offers affordable rates and personalized service. Plus, he will help with a wide range of tasks, prepare an estate plan efficiently, communicate regularly, and guide you through the entire process. Visit the firm’s website to learn more about their services, or call (305) 670-7010 to set up a consultation.  

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