Having the estate planning talk with your parents
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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
Hey Reader, It’s been a little while since I popped into your inbox, and with the LSU Tigers starting their road to the College World Series in Omaha, it reminded me of something Eric and I used to talk about doing when we were just married. We’d each buy one share of Berkshire Hathaway stock so we could go to Omaha to see Warren Buffett speak at the shareholder meeting. Not because we had big stock portfolios—just because it felt like one of those “one day” adventures. Go see Warren. See...
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
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