Talking about estate planning with your spouse is probably one of the most important conversations you will ever have – and it can be one of the most difficult, especially if you differ in your approach to finances.
Usually we find that one spouse is more motivated than the other about creating an estate plan. If you are that spouse, you may be able to engage your partner about completing this important task by talking about the advantages of advance planning.
Usually the spouse who “lives for today” is harder to pin down when you want to talk about events that are in the future. To entice them to get involved, tell them that estate planning can:
· Help you plan and save for retirement
· Protect assets from creditors
· Protect your minor children by naming a guardian in your will
· Help you plan for long-term care costs
· Protect both of you in case you become incapacitated and unable to make financial or healthcare decisions
· Help you leave a more meaningful legacy for your loved ones
Once the procrastinating spouse is on board, make a list of all your assets and discuss important decisions like who should be the guardian of your children, the executor of your estate and your designated agents for healthcare and finances. Then you are ready to sit down with your estate planning attorney to create your estate plan.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0041.