Many families and loved ones connect with each other during the holidays. They commonly reminisce about the past, laugh, and enjoy visiting. They also often plan for the future. Some of these plans include discussing their wishes regarding death, incapacity, and inheritance. A few communications to trusted loved ones on these topics can save significant stress in the future. The communications can also protect family wealth.
Express Your Wishes to Your Loved Ones To Protect Family Wealth and Avoid Stress
Though it is not always an easy topic, it helps to discuss your wishes regarding death and incapacity with your loved ones. More specifically, it helps close loved ones to know if you have a Will and where you keep important documents. This information helps surviving loved ones if you pass. Further, it helps loved ones to know your wishes regarding your medical wishes and who you want to make decisions for you if you are not able. Both of these communications can also save your family a significant amount of stress and wealth in the future.
The Location of Your Will and Important Documents Helps Protect Your Wishes and Family Wealth
People who communicate the location of their Will and important documents commonly reduce stress for survivors. Further, this communication protects the family from the uncertainty of pulling the information together after a death. It also helps prevent lost and stolen Wills. Unfortunately, Wills commonly are stolen or destroyed by more aggressive family members. More specifically, those devastated by a death are commonly busy grieving after a death, while more estranged family members often start scavenging for wealth. For this reason, it is often best to provide basic information about your Will to close loved ones.
Express Your Wishes Regarding Who Makes Decisions for You During Incapacity Avoid Stress, Delays, and Costly Litigation
Many people fail to plan for incapacity. This failure commonly causes significant problems and delays. More specifically, if you become incapacitated who will make medical and financial decisions for you. While you are healthy, it is easy to execute a power of attorney or medical power of attorney. These documents determine who makes decisions for you if you are incapacitated. If you don’t have these documents, these decisions often need to be made by courts and medical providers. Further, if courts have to decide, there will often be significant delays and costs.
Communicate Your Wishes with Trusted Loved Ones
Overall, the holidays is a great time to discuss your wishes with your trusted loved ones. Doing so can avoid significant stress and loss of wealth. For more information on protecting family wealth, please go to the following webpages: Texas Family Business Inheritance Lawyer, Texas Inheritance Lawyer, and Texas Real Estate Inheritance Lawyer.