Some people are not comfortable discussing death and illness with their aging parents. In truth, all of us will get older and have to rely on others for various forms of support. While the aging process can be difficult you can lessen the strain by planning ahead of time. It is important to sit down with your parents and discuss their future with them.
What Are the Necessary Estate Documents?
One of the most important estate documents that your parents should prepare is a will. A proper will should clearly outline who gets what assets in the event of your parents’ death. Many people think that preparing a will is intimidating but there are many starter kits that are useful to jumpstart the process. While kits are useful it is important to consult an attorney if a large amount of money and considerable assets are involved.
How to Initiate Estate Planning?
In order to ensure a smooth estate-planning journey, it is important to locate any important documents including insurance policies, social security cards, deeds, certificates, and licenses. You should also have the contact information of your parents’ doctors, financial advisors, and attorneys.
While estate planning may seem stressful diligence and planning ahead will pay off in the long run. Most importantly, make sure that you listen to your parents’ needs and concerns as you assist them through this process. If you have any questions or concerns about the estate planning process please contact our Palm Springs estate planning law firm for more information.