Taking time to draft a will is one of the most responsible steps you can ever take. With a valid will in place, you can have peace of mind knowing that your hard-earned assets will pass down to the people and causes you care about.
But a will can also be a subject of a costly legal battle, especially if some beneficiaries are not satisfied with their inheritance. To avoid this, most people find it wise to discuss their wills with their beneficiaries. However, this can be a very sensitive subject. So how do you discuss your will with your family?
Here are a few useful tips that can help you have a fruitful discussion regarding your will with your loved ones.
Have clear objectives
Nothing can go wrong with proper planning – and the discussion around your will is no different. Before summoning your family for this discussion, be sure to set clear objectives. Chances are your children will ask questions, especially if the wealth distribution is unequal. It is important that you anticipate these questions and prepare beforehand. The last thing you want is to leave your family with more questions than answers as this will likely lead to probate disputes when you are gone.
If you have left some children more assets than others, this would be a great opportunity to explain why you made such decisions.
Timing is extremely important
Timing can make or ruin the conversation around your will. Thus, it is crucial that you identify a positive and ambient environment for this conversation. Do not wait until you are almost incapacitated or when there is a crisis to call your dependents to the table for this discussion. For instance, you do not want to discuss your will while you are slipping in and out of consciousness and your testamentary capacity might be questionable.
Protecting your interests
A will speaks for you when you are no longer around to speak for yourself. For this to happen, however, your will must be valid and properly executed per California wills laws.