Planning The Perfect Gift

While thoughts of estate planning may seem to clash with the joy of the holiday season, the holidays can actually be a great time to discuss your future plans with family and loved ones. Although we may keep in touch with friends and family throughout the year, for many of us, the holidays provide a rare opportunity to have extensive visits with those who mean the most to us. 

During the holidays, we tend to have more time for in-depth conversations with our loved ones than we have at other times during the year. Your close friends and family can be a wonderful source of advice and feedback as you consider all of your options.  So what types of things should you discuss?  Below are a few ideas to get the conversation started:

• Would your nephew like your antique dining set after you pass away? Are there any other specific items you own that a family or friend would truly treasure?

• Should your sister become your children's guardian if something happens to both parents? Is she willing to take on this responsibility?

• Is your best friend comfortable making decisions for you if you become incapable of managing your own medical care?

• Should you give your son the power to take over your finances if you become incapable of doing so? How do your other children feel about this?

• Who would feel most comfortable taking on the role of personal representative and distributing your assets after you pass away? Your friend? Your daughter? Your mother?

Including your friends and family in the estate planning process can be helpful to you, and can alleviate doubt and disagreement in the future by giving those you love a clear understanding of your wishes. When the conversation comes to a lull this holiday season, give it a shot. 

Best wishes for safe and happy holidays!