MIKE’S ESTATE PLANNING MINUTE

By Michael J. Amthor, Esq.

HAVE YOU TALKED WITH YOUR FAMILY ABOUT MONEY? YOU SHOULD. HERE’S WHY.

I have discussed the importance of estate planning many times in these articles. Saving money, peace of mind and making things easier for those you leave behind are just a few of the benefits. However, with estate planning typically comes difficult conversations with family members that does not come natural. Subjects such as who you want to be in charge of your estate after death, who should receive your assets and end of life issues are just the beginning. Nine out of 10 Americans consider it important to have a financial plan but almost half have difficulty discussing finances with loved ones. There are three reasons for this: It can be overwhelming, it can be awkward and talking about a future plan is difficult when you don’t have one in place. The statistics tell an interesting story. 38% of people do not even talk to their spouse or partner about the other’s financial situation before getting married. 55% of those without a financial plan say they are not confident in their retirement and a full 86% of us do not feel they have saved enough for retirement. It starts with a conversation and sometimes we just need a little help to take that first step. When I talk to clients about estate planning, I do so without making them feel guilty or being ashamed. The most important step you take is talking with someone. I reassure my clients that it is never too late nor too early to start talking about finances after death. Most of my clients have a very real sense of accomplishment and relief because many have been putting it off for years. I cannot emphasize enough the peace of mind my clients walk away with when we complete their estate plan and they know this important issue has been handled. Make a commitment to yourself and talk to your family today about these issues. Keep it light and do not take it too seriously. Your next call should be to my office and we will put your plans into action.

If you have questions on this or any other estate planning topic, call me at (925) 5164888. East County Family Law Group, 1181 Central Blvd. Ste. A, Brentwood www.eastcountyfamilylaw.com – Advertisement care management helps seniors struggling with depression, evictions, and elder abuse. With senior needs increasing, this event is crucial to continue providing these services.

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