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Estate Planning That Expresses Who You Are – 5 Things to Talk About with Your Family

Jun 20, 2017

FamilyYou want to pass your property to your loved ones after you pass, but what about your wisdom?  Making your estate plan pass on your wealth and your wisdom is important, and calling a family meeting is also likely a necessary step.

Your family is probably spread out across the country, only seeing each other at major holidays.  This is an ideal time to have this discussion.  Also, if you have to, the use of video conferencing and modern technology is a possibility; this allows you to meet outside of a major holiday.  You should work with your estate planning attorney and financial professionals to prepare for the meeting, and possibly attend it.  During the meeting, here are a a few topics to discuss:

1. Your rich life story

Take advantage of so many family members to begin recording your family history and personal life story.  These recordings can form the core of your family’s memories of you.  You can also share the valuable lessons you’ve learned from your life. Your loved ones will be grateful.

2. How you’d like to be honored

Creating your estate plan included some incredibly difficult decisions.  This meeting is an opportune time to share your decisions with your loved ones so they can understand your rationale, vision, and goals.  Explaining these things now can be help them prepare for the future rather than learning about your decision during a traumatic time.  Fortunately, other parts of your family meeting will be more positive than this part.

3. Your family tree

You can use the meeting to not only talk about your history, but also the history and stories of your ancestors.  Answer the questions that you can, and start the process of finding out the stories of those that went before you.  This can become a family tradition that will add great worth to your family.

4. Significant heirlooms

You can also tell the stories associated with any family heirlooms.  Knowing those stories can add incredible emotional value to those objects.  Deep down, stories and values are what make up a family and its history, not its valuables.

5. Your core values

You can customize your estate plan to express your values.  Education, incentive, and charitable trusts are some of the options you have to express your values through your estate plan.

When you stop and think about it, you are so much more than what you own and have accumulated.  And there is so much more than your wealth that you can pass on, and your wisdom and experiences are ultimately worth so much more than numbers on paper.