4 Ways Estate Planning Can Improve Relationships With Loved Ones

family-relationships-enhanced

If you haven’t done your estate plan, you may not realize that estate planning is as much an emotional task as it is a structured legal process. For many people, there is as much at stake emotionally as there is financially. That is because your estate plan takes effect at a time when significant life-altering events have already occurred; such as when someone you love no longer has the ability to care for themselves or you have lost a loved one because of death.

Given life’s fleeting nature, taking the time to create an estate plan is vital for ensuring you and your loved ones will be provided for and well cared for no matter what happens. Though many people find that making decisions related to incapacity and death can be uncomfortable subjects to discuss, once you have a comprehensive plan in place, you’ll experience a huge sense of relief and peace of mind; the peace of mind that comes with knowing this critical task has been discussed and documented.

And you may be amazed at how estate planning can actually enhance your relationship with your loved ones in major ways. As you put your estate plan together you will undoubtedly examine the relationships you hold near and dear with family and friends—past, present, and future—like never before. The estate planning process can give rise to heartfelt communication and allows you to prioritize what matters most in life.

Indeed, thinking about and communicating clearly with your loved ones about what you want to happen in the event of your incapacity or death (and asking your loved ones what they want to happen) can foster a deeper bond and sense of intimacy than presently exists.

Here are just a few of the valuable ways estate planning can improve the relationships you cherish most:
1) Shows Them How Much You Really Care
Taking the time and effort to carefully plan for what will happen to you in the event of your incapacity or when you die is a genuine demonstration of your love for those who will be most effected. It would be far easier to do nothing and simply let your family and friends figure it out for themselves. After all, you won’t be around to deal with any of the fallout.

By planning you show that you truly cared enough to make plans so they wouldn’t be left in the dark or have to make hard decisions by themselves when you are no longer able to help them work through really hard decisions.  Such selfless concern and forethought is a final expression of how much you care and your unconditional love for those left behind.

2) Take Advantage of a Great Opportunity for Honest Communication
Sitting down and having an honest discussion about life’s most challenging subjects—incapacity and death—is almost certain to bring you and your loved ones closer emotionally. By facing immortality together, planning has a way of highlighting what’s important in life—and what’s not.

Our clients consistently share with us that after going through our estate planning process they feel more connected to the people they love the most. An added benefit is that they also feel more clear about their lives and how they want to live during the time we have here on earth.

Planning offers the opportunity to talk openly about matters you may not have even considered. When it comes to choices about distributing assets and naming executors and trustees, you’ll have a chance to engage in frank discussions about why you made the choices you did.

While this can be uncomfortable, clearly communicating your feelings and intentions is crucial for maintaining healthy relationships. In the end, it might just be the first step in actively addressing and healing any problems that may be lurking under the surface of your relationships.

3) Build a Deep Sense of Trust and Respect
Whether it’s the important people you name as your children’s legal guardians or those you choose to handle your end-of-life decisions, estate planning shows the important people in your life just how much you trust and admire them. What greater honor can you bestow upon another than putting your own life and those of your children in the hands of those you trust?

You see, estate planning allows you to express your affection in a truly tangible way. As your chosen ones see exactly how much you trust and value them, it allows you to deepen your relationship with one another.

4) Create a Lasting Legacy
While estate planning can be viewed as a way to pass on your financial wealth and property, it can offer you and your loved ones much more than just financial security. When done right, preparing your estate plan lets you hand down the most precious assets of all—your legacy of life stories, lessons, and values.

The wisdom and experience you’ve gained during your lifetime are among the most treasured gifts you can give. Left to chance, these gifts are likely to be lost forever. In light of this, we’ve built in a process, known as Family Wealth Legacy Interviews, for preserving and passing on these intangible assets.

With this service, we can guide you to create a customized recording in which you share your most insightful memories and experiences with those you’re leaving behind. Family Wealth Legacy Interviews can not only ensure you’re able to say everything that needs to be said but that your legacy carries on long after you—and your money—are gone.

The Heart of the Matter

We can help guide and support you in having these intimate discussions with your loved ones. And as our Family Wealth Legacy Interviews service shows, we offer a wide array of customized planning options designed to enrich your family and friends with far more than just material wealth.

With our help, estate planning doesn’t have to be a dreary affair. When done right, it can put your life and relationships into a much clearer focus and ultimately be a tremendously uplifting experience for everyone involved. Contact us today to learn more.

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