Should you discuss your will with your adult children?

Speaking openly about what’s in a will can be uncomfortable for some people. Accordingly, they opt not to do so. However, discussing estate planning matters with adult children can offer numerous benefits.

These include:

To understand their preferences  

Leaving your children with things they prefer can increase the probability of a lasting legacy. While you want them to have a stable and happy life when you are gone, you may not know their views on stability and happiness.

For example, your child may be passionate about traveling the world. Leaving the family business to them can be a big ask. Further, a particular heirloom may have more sentimental value to one of your children– given an opportunity, they will claim it in advance.  

Talking to your children helps you know their preferences and, in turn, understand the best way to distribute your estate.

Taking your children’s preferences into account doesn’t mean your estate plan will be unduly influenced. You will consider their concerns and then make informed decisions by yourself.

To provide more details about your decisions  

You don’t need to explain every decision you make in your will. But it’s beneficial to explain crucial ones to eliminate the chances of contests in the future. For example, if you are planning to divide your estate unequally, perhaps one of your children has special needs; hence, they need more support, let others know earlier to avoid surprises at the last minute.  

And if disagreements arise during your conversation, you will have the opportunity to resolve them earlier.

Sharing the contents of a will is a personal choice. But doing so can offer the above-discussed advantages. You should also consider legal guidance to protect your beneficiaries considerably.     

This article is for general information purposes. It helps you know you have options. Hence, you should get legal help. The information provided is not legal advice.