Estate Planning with Older Adult Children

When adult children are no longer dependent on their parents for support, those in their thirties and beyond, there can be an advantage to bringing them fully into  their parents’ Estate Planning.  The parents no longer have to be concerned about the welfare of their children because these children are already caring for their own basic needs and oftentimes their own children.

Parent want what’s best for their children.  What better way to know what’s best for them than by asking them?  Sharing information with your children will allow them to realistically plan their lives without wasting time on guessing.  Withholding information leads to suspicious thinking and misunderstandings.

Being kept in the dark can also lead to problems with the children planning their own Estate Plans.  Without knowledge of inheritances, they may not correctly provide for them in their Estate Plans.  What may be worse, is the children may postpone doing their Estate Plans, waiting to find out, maybe too late, what their inheritance will be.

With older adult children there is not the same chance as with younger adults, of not being productive members of society because of the inheritances.  Their values are usually established.

The decision is yours, whether you include your children or not, however, Estate Planning does not need to be the secretive document that it once was.  Sometimes not being secretive can lead to a more relaxing and prepared life for all.

Need help with your Estate Plan?  We can help.

Todd Courser 810-245-0813