Written on January 4, 2013 – 5:00 am | by Elaine Blades
I read a number of pre-holiday blogs and articles suggeting that the holidays are a good time to not only eat, but also talk, turkey. A festive holiday gathering was depicted as the perfect time to talk about family finances, what should happen to the family cottage, who would make the best executor, and mom and dad’s potential future mental incompetence.
If your family failed to seize this wonderful festive opportunity, all is not lost. Take a few minutes now to replay the scenes that played out in your home over the holidays – I bet you’ll find some useful estate planning food for thought amongst the shortbread crumbs.
If you are appointed as (co-)executor/attorney for your parents ask yourself the following: did you enjoy the 2, 3 or 5 hour drive (or cross-country flight) “back home”? This is the drive you’ll be making – perhaps many times – if called upon to act as their executor. Did you enjoy several peaceful and amicable hours or days with your siblings? Can you see yourselves acting as co-attorneys for mom or dad, agreeing on their care requirements and how best to manage their finances, working in tandem to settle their estates, or amicably sharing the family cottage?
I do hope you can answer “yes” to all or most of these questions. But, if in all honesty you can’t, in the hopes of creating a little more peace on earth, perhaps you should add “talk (estate planning) turkey with parents” to the top of your list of new year’s resolutions.
Thanks for reading and best wishes for a great 2013.