Get Your Free Estate Planning Worksheet >>
Difficult questions regarding your parents’ end-of-life wishes need to be asked, so you’re sure that their wishes are being followed. When you start this conversation, focus on your role as a helper and organizer, recording their wishes and making sure they have a say in how their affairs are handled.
These 12 questions will not only ensure that your parents have a good handle on their estate planning, but they should also encourage you to put your own plans in order.
- Is your will up to date?
- Is there anything I can do to help put your other important documents in order? This question provides an opening to talk about banking and credit card information, trust documents, insurance policies, ID cards, deeds, titles, and other vital records. Don’t forget usernames and passwords for email, social media, and any other digital accounts.
- Have you told someone you trust where to find these documents?
- Have you had a chance to take an inventory of your assets?
- Have you ever thought about adding a charitable gift to your plans? Your parents may be surprised to learn that charitable gifts given through estate plans can offer financial and tax benefits while helping nonprofit organizations such as the Smithsonian Institution provide beneficial services and assistance to others.
- Do you have advisors you have been working with? Find out if they have a trusted attorney, financial consultant, accountant, or insurance specialist who has counseled them about the best ways to protect their assets.
- Have you named a trusted person to make health and financial decisions for you if you are no longer able to make those decisions yourself?
- What are your feelings on long-term care? It might be useful to come prepared with some basic information on home care, assisted living, and nursing homes. It’s also good to know whether they have any health or long-term care insurance.
- Do you have an emergency contact list?
- Are you an organ donor? If so, this should be listed on a driver’s license or made official by registering online with the state in which your parents live.
- Have you thought about funeral arrangements?
- Is there anything else you’d like to discuss? This gives your parents the opportunity to talk about other issues that are on their minds.
Get a free guide, including a checklist, to begin your estate plan.
Secure Their Legacy
If a gift to benefit the future of the Smithsonian Institution is one of your parents’ wishes, we can help. Please contact the Office of Gift Planning at 888-419-7584 or [email protected] for a no-obligation consultation on the best gift to meet their personal and financial goals.
