Gathering Around the Holiday Table: An Estate Planning Reminder

The holidays bring the joy of gathering with family, sharing meals, stories, and traditions. These moments are enriched by the presence of multiple generations, providing a unique opportunity to discuss important future decisions, like estate planning.

Navigating the topic of estate planning can be uncomfortable, but it offers peace of mind for all involved. Nearly 55% of U.S. adults don’t have a will or estate plan in place, risking lengthy probate processes and potential family disputes. Understanding control, clarity, care, efficiency, and legacy are key benefits of estate planning.

Questions to Ask Each Other

For Adult Children to Ask Parents:

• Do you have an up-to-date will or trust in place?
• Who have you chosen to make financial and medical decisions if you’re unable to?
• Have you shared your wishes for medical care and end-of-life planning?
• If something happened tomorrow, would we know where to find your important documents and accounts?
• Are there heirlooms or traditions you’d like us to know the stories behind?
• Do you feel confident that the people you’ve chosen to handle your affairs are still the right ones?

For Parents to Ask Adult Children:

• Do you know where to find my important documents in case of an emergency?
• Have you considered creating your own will or an estate plan?
• If you received an inheritance tomorrow, would you know what to do with it — or who to turn to for help?
• Are there family keepsakes or traditions you’d be heartbroken not to have carried forward?
• If you had to step in to help us — financially or medically — what support would you need?

These important questions can be brought up quietly during a walk or a moment of downtime, rather than over the main meal.

Why These Conversations Matter

For adult children, understanding their parents' estate plans helps avoid painful surprises and ensures important documents are located when needed. Parents can help younger generations by discussing guardianship and encouraging them to prepare their wills.

Pulling It Together

Think of estate planning as a gift to your loved ones. Starting these conversations during the holidays can prevent future confusion and emotional pain. If you feel unsure about where to begin, or want help navigating these conversations, reach out to a trusted advisor for guidance.