How to Talk to Your Parents About an Estate Trust in Lake County

Estate Planning and Probate

More and more consumers are turning to estate trusts to protect their assets after they are gone. If your parents are relying only on a last will and testament for their property, investments, and money, you might want to broach the topic of an Estate Trust in Lake County.

1. Ask your parents what they want to happen to their assets.

Sometimes the best way to approach a sensitive topic is to ask a leading question. This opens the door for communication and ensures your parents do not think you are attempting to force them into a decision they aren’t ready to make. Let your parents know that you want the best for them, and that you want to ensure their estate is handled according to their wishes.

2. Provide an example of poor estate planning.

The news is filled with stories of poor estate planning and its disastrous consequences. This can provide an ice breaker for talking to your parents about an Estate Trust in Lake County. Show them a news story about what can happen if you aren’t careful about estates and trusts, then let them know you do not want to see the same thing happen to them.

3. Invite them to meet with a professional.

Estate planning is not something that should be handled exclusively within your family. Mention that you want your parents to receive the best advice possible, so suggest a visit with Charles T. Newland and Associates to discuss their legal options. Meeting with a lawyer will ensure you receive factual, relevant information to help you set up a living trust or other financial arrangement for your parents’ assets.

4. Emphasize your desire to maintain your parents’ privacy.

Since wills are considered public record, they are made available to anyone who wants to use them. An estate trust, on the other hand, is a private document that your parents do not have to disclose to anyone beyond their lawyer and trustee. Explain that you are concerned about the safety of their assets and that you want to discuss possible solutions.

When your parents are ready, go with them to meet with a lawyer about setting up an estate trust. Helping them through this process will make it easier on the whole family.