Having the estate planning talk with your parents
|
Hey Reader, It's time we tackle that awkward chat you've been putting off: discussing estate planning with your folks. I know, I know. It sounds super formal and a bit nosy, like something only mega-rich people bother with. But trust me, it's something every family needs to get on top of. Feeling weird about even starting this conversation is totally normal. The whole thing can seem pretty intimidating. But I found this article, How to Discuss Estate Planning with Your Family, that explains how to approach your parents and ensure everything they want is sorted out and clear. Coming from someone who’s had to recently deal with the loss of a parent, having things sorted beforehand was a true blessing. It let us catch our breath after my mom passed without the added stress of immediately figuring out what was going on with the finances. Honestly, if you approach this conversation with care and respect, I bet your parents will be relieved you brought it up. They might even thank you for stepping up. Talk soon, Addie |
Addie Prewitt Law
Warren Buffett updated his will at the end of last year—and his biggest tip might surprise you: Let your adult children read your will before you sign it. Whether you have “modest or staggering wealth,” Buffett says it’s a conversation every parent needs to have. Curious about why? Here's an article that breaks it down and links to his letter: Warren Buffett suggests all parents do one thing before they die. What do you think—sound advice? -Addie
This morning, my kids burst into my room, screaming, “It’s snowing! It’s snowing!” In New Orleans, that’s practically science fiction. Schools had been warning us since Friday—no classes today becuase of snow. Cue every working parent’s dilemma: how to keep kids entertained, off their devices, and still get anything done. Spoiler alert: it’s about as easy as finding a snow shovel in New Orleans. But this rare snowstorm got me thinking: life is full of surprises. Snow in New Orleans, a sudden...
Hi Reader, I’ve always been a big fan of podcasts, and this week, I came across one where the guest said something that got me thinking. They pointed out that lawyers often refer to themselves as “trusted advisors,” but is that really the case if every conversation comes with a fee? When it comes to estate planning, it’s so much more than just transactions. It’s about building a relationship that helps guide your family’s future and ensuring your wishes are fully understood—without worrying...