Like me, you probably spent lots of time with family and friends over the holidays. And I hope, like me, that time reminded you of just how important and special these relationships can be.
Though you might not realize it, estate planning has the potential to enhance those relationships in some major ways. Planning requires you to closely consider your relationships with family and friends—past, present, and future—like never before. Indeed, the process can be the ultimate forum for heartfelt communication, fostering a deeper bond and sense of intimacy, and prioritizing what matters most in life.
Here are just a few of the valuable ways estate planning can improve the relationships you cherish most:
1) It shows you sincerely care
Taking the time and effort to carefully plan for what will happen to you in the event of your incapacity or death is a genuine demonstration of your love. It would be far easier to do nothing and simply let you family and friends figure it out for themselves. After all, you won’t be around to deal with any of the fallout.
Planning in advance, though, shows that you truly care about the welfare of your loved ones. Such selfless concern and forethought equates to nothing less than a final expression of your unconditional love.
2) It inspires honest communication about difficult issues
Sitting down and having an honest discussion about life’s most taboo subjects—incapacity and death—is almost certain to bring you and your loved ones closer. By facing immortality together, planning has a way of highlighting what’s really important in life—and what’s not.
In fact, our clients consistently share that after going through our estate planning process they feel more connected to the people they love the most. And they also feel clearer about the lives they want to live during the fleeting 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. And that may just be the first step in actively addressing and healing any problems that may be lurking under the surface of your relationships.
3) It builds a deep sense of trust and respect
Whether it’s the individuals you name as your children’s legal guardians or those you nominate to handle your own end-of-life care, estate planning shows your loved ones 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 their hands?
Though it’s often challenging to verbally express how much you love your family and friends, estate planning demonstrates your affection in a truly tangible way. And once these people see exactly how much you value them, it can foster a deepening of your relationship with one another.
4) It creates a lasting legacy
While estate planning is primarily viewed as a way to pass on your financial wealth and property, it can offer your loved ones much more than just financial security. When done right, it also lets you hand down the most precious assets of all—your life stories, lessons, and values.
In fact, 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 often lost forever. Considering this, our planning process includes a means of preserving and passing on these intangible assets.
We guide clients to create a customized video in which they share their most insightful memories and experiences with those they’re leaving behind. This not only ensures our clients are able to say everything that needs to be said, but that their legacy carries on long after they—and their money—are gone.
The heart of the matter
Estate planning doesn’t have to be a dreary and depressing 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.
Dedicated to empowering your family, building your wealth and defining your legacy,