call a family meetingDo you have your estate plan in order? Are your power-of-attorney documents, beneficiary forms and will up to date? That’s excellent. Now it’s time to call a family meeting, so you can share that information.

Many people find it difficult to talk with their children and families about finances, estate planning, and long-term care. So they avoid it. Yet, communication is a critical element to effective planning. It’s also a key factor in creating peace-of-mind for yourself and those you love.

Here are some helpful tips for when you call a family meeting:

  • Keep the discussion brief. Let your family know you’ve taken time to put your affairs in order, and you want them to be aware of your plans. Explain what documents have been drafted, why they are important to you and the family, and where they can be located.
  • Remember, estate planning is not just about death. It’s also about life, who we love, and what is important to us. This gathering is a great time to share with children and/or grandchildren some of the principles that guided you in your decisions (such as philanthropic plans or funds set aside for education).
  • Follow up with something fun. Even if you must keep your distance due to COVID-19 precautions, you can conclude with an activity everyone will enjoy. Host a family dinner outdoors or play a game online.  Games like Bingo, Five Things and Pictionary lend themselves well to Zoom or other virtual meeting platforms. Get more ideas with a web search for “games to play virtually.”

Did you know?

Our advisors will organize and facilitate family meetings for their clients, as part of our Core Client Services. That’s the value of Perspective.