Approaching the topic of estate planning with a loved one can be difficult, but it is an important thing to do. While you want your loved one to be in complete control of the process, there are some things you can do to assist.
MarketWatch explains it may help to approach it from a practical standpoint. Estate planning can help prevent legal issues or other problems after your loved one’s death. Most people will have no trouble working on their plan when they understand it is for the benefit of those they will leave behind.
A great place to begin is by identifying the ultimate goals. If your loved one wants to ensure there is no fighting or arguing over their assets, this is an excellent start to the planning process. Having clear goals can enable the person to better realize what he or she must do.
You also want to assist the person with identifying all assets and gathering information about those assets. They will want to do a complete inventory. Personal items, such as clothing, may not need to be in the estate plan documents, but it can still help for the person to leave directions on what to do with those things.
The next step is identifying heirs. The person should make sure they have updated contact information as this will be a huge help to the personal representative as they work to close the estate.
With the basics covered, the next move is to work with a professional to develop a comprehensive estate plan.