Estate planning does not begin and end with drawing up a will or trust. It encompasses the entire process of communicating to your loved ones how you would like to leave your affairs. Unfortunately, it is all too common for a family to become bitterly divided after a death. Survivors file lawsuits and engage in nasty behavior rather than celebrate the life of the deceased. Proper communication during the estate planning process can help avoid these problems. However, because this can be an emotional time people are often reluctant to have these conversations.
- A Letter of Instruction: This provides reassurance to your executor during a difficult time and can help avoid conflicts with others. It gives a context to your legal documents.
- A Letter of Intent: This allows you to explain how and why you determined distribution of assets, which is especially useful if there is an unequal allocation. You can provide instructions for the funeral or define what to do with a particular asset.
- An Ethical Will: You can create a statement of the values, beliefs and experiences that have shaped your life.
- Messages and Thoughts: You can leave messages to various survivors and thoughts about your death and life.
Communication, both written and verbal forms, is a vital tool in the estate planning process. It provides clarity and peace of mind to yourself and those who will become responsible for your estate. An experienced professional can help foster an open dialog covering difficult topics, build a collaborative spirit and assure that everyone is comfortable with the plan. If you are in need of an estate planning professional, contact Lindsay Leonard of Santa Barbara Estate Services at www.SantaBarbaraEstateServices.com.
