When you are planning to have a conversation with your loved ones about your plans for what happens to your assets after you pass away, you can feel a lot of different ways about this: anxious, scared, stressed, excited, sad. The list could go on and on. However, this is one of the most important conversations you can have with your family.
People don’t like to talk about death or money so these conversations often go unsaid and that can lead to tax implications for your loved ones after you pass. It can lead to resentment amongst family members or misdirected anger over who got what or who was responsible for things.
Don’t let that happen to your family after you are gone. Letstalkaboutafter.com is a resource to help you facilitate open family discussions for a peaceful future for your loved ones.
Many of you might ask, how do I bring up this subject or how can I start these conversations?
First of all, you have to own that it is going to be uncomfortable and you have to work through that because the value of your family is greater than your discomfort.
Here are a few tips to help you:
You could start by referencing an article, podcast, letstalkaboutafter.com, or some other format where you learned about the importance of this topic and then remind your family how important they are to you. Let them know that even though this is a difficult subject, you need to talk about it because you want them to continue to be happy even after you are gone. For example, “I read a blog post on letstalkaboutafter.com that discussed the importance of family discussions around inheritance. I would really like us to start having those conversations.”
You could use a friend or an acquaintance as an example. For instance, “My friend Bob’s father recently passed and now his family is in a legal battle over his assets. I don’t want that to happen to our family.”
You could start by asking your loved ones how they feel about having the conversation. Their answers might surprise you. “Your mom and I would like to sit down with you all and discuss our plans for your inheritance. It is important to us that we prepare you for what we have planned. We know it can be hard to talk about. What are your feelings about having that conversation?”
The biggest challenge will be getting the conversation started because it is uncomfortable and for whatever reason, death and money have been traditionally taboo topics of conversation. However, remember that this is your family. You love them and they love you. Your emotional support is much more important to them than whatever financial plans you have for your money after you pass.
As always, those of us at letstalkaboutafter.com are here to help. Don’t be afraid to reach out if you have questions or need help!
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