Involving Your Children in Your Estate Planning

When should you start to discuss your estate plans with your children? There is no one right answer, but it's probably earlier than you think. Many people are hesitant to discuss their financial affairs with their children, irrespective of their children's ages, due to concerns about privacy and their children's motivation to make their own way in life. There might also be a reluctance to address out loud the inescapability of their own mortality. Or perhaps they plan to treat their children differently, for sufficient reason, and are reluctant to discuss this directly with them. In our experience, it is better to discuss your children's financial future with them sooner rather than later. It sets you at ease, as well as your children. Done well, age-appropriate discussions can benefit your children by helping to reinforce your family's financial values and making them better stewards of your family's financial legacy. We can help moderate those discussion, if you’d like.