There will come a time in your life when you should have a difficult discussion with your adult children. That discussion is about what they will do and what they will inherit when you die. No one wants to think about or talk about death, but it is an important discussion you need to have. Your adult children should know about your wishes, your will and how the estate will be divided.
Fighting and confusion among your adult children can be prevented when you explain the decisions made with your estate plan and will. When you outline for your children how you came to the decisions you made, they will at least have an understanding of your thinking. It is up to them to accept these decisions.
It might be a good idea to invite professionals into the conversation with your adult children. These include your financial planner, your estate planning attorney and your accountant. All of these professionals can answer questions and provide guidance for your children.
You don’t have to disclose all of the information regarding your estate plan to your adult children at the same time. You can disclose this information over a period of time. Go slow with the conversation, so they are able to digest what they are being told. Check-in with your children every so often with new information related to your estate, especially if it is complex.
The more informed your adult children are about your wishes and the will, the less likely it is that they will fight with each other after your death. It will also make a difficult and upsetting situation a little bit easier to handle.