Talking to your parents about estate planning can be uncomfortable, but it can prevent confusion and uncertainty in the future. If they pass away without preparing a will, sorting out their affairs will likely fall to you and your siblings. Fortunately, approaching this topic the right way can pave the way for a fruitful conversation.

The Importance of Estate Planning

If either of your parents passes away without an estate plan in Texas, the other will automatically inherit all of their assets if they’re still married. However, if they’ve gotten a divorce or the other parent is no longer living, the entirety of their estate will be divided evenly among their children.

This arrangement probably won’t conform to the wishes of your parents, who may want to leave belongings to their friends or siblings. Even if they left verbal instructions, you and your siblings might disagree about how their assets should be divided or who should get items of sentimental value. This can lead to disputes between family members that could spark lengthy legal challenges.

How to Bring Up Estate Planning

Preparing your own estate plan is a great way to broach the subject with the parents. This gives you an opportunity to discuss the importance of writing a will and what steps you’ve taken to protect your loved ones. These conversations can get them thinking about how estate planning can help you and your siblings.

Your parents might be reluctant to discuss the specifics of their estate plan with you, so you can recommend speaking to an attorney. In fact, referring them to a professional can reassure your parents that you’re only concerned with getting a plan in place, regardless of how they might decide to divide their assets.

Estate planning can be an overwhelming, confusing process, which is why families throughout Texas Hill Country rely on Corey C. Davis, CPA Attorney at Law. As a licensed CPA and respected attorney, this professional offers a comprehensive range of accounting and legal services. Visit their website to learn how they can help simplify your estate plan. Call (830) 257-8800 to schedule a consultation today.