On behalf of Law Offices of Frye, Fortich & Garcia, P.L. | September 10, 2021 | Estate Planning
In addition to the other topics covered in last month’s post, this conversation should ask where important financial items and documents are. Unexpected death, or just the gradual unmooring of dementia, could make these items seem to disappear, locking out assets that could become very important. It’s one of the main reasons to have these conversations sooner rather than later: life can never, ever be predicted.
Some of these items include:
- Insurance policies
- Will or trust
- Durable power of attorney documents
- Medical directives (especially if one parent dies or suffers dementia)
- Bond or stock certificates
- Safety deposit key
- Property deeds
- Car titles
- Pension information
- Contact for parent’s financial advisor
Helping the Ones Who Helped You
That’s why you want to have these talks. Maybe your parents are very prepared. Maybe they haven’t started planning at all. Maybe they simply don’t want to or can’t. Either way, you are being a good and caring child by setting their minds to the task.
It isn’t greedy. It isn’t callous. It certainly isn’t cruel. Talking to your parents about their wills and estate planning is an act of love and one that can make sure their last days—and, indeed. their legacies—aren’t clouded by paperwork and controversy. Helping them take these steps allows them to step more freely into the rest of their lives.
