Many people idolize their parents. They have worked hard their entire life, raised a family and managed to keep it all together. However, age is inevitable and it catches up with us all at some point. It can be difficult to watch your parents become more dependent and it may be even more difficult for them to accept it.
Far too many people still put off estate planning because they do not believe it applies to them. Hesitancy over estate planning occurs for numerous reasons but it is often the perceived notion that estate planning is only for the rich or those who are very elderly.
This is not the case, estate planning can benefit anyone and it is an important subject to discuss with your parents. Outlined below are some tips for approaching the issue.
Don’t be overpowering
If your parents are already hesitant, then charging in like a bull will only reinforce their reluctance. It is far better to take a gentle approach. One suggestion might be to tell them how you have made your own estate plan and explain the peace of mind you have obtained from it. You don’t have to lie about this. What better way to show your parents the importance of estate planning than to tackle your own?
Put their wishes first
Often, people are scared of estate planning because they believe that they are handing over control of their life to others. It is important to let your parents know that they make all the decisions, and it is their wishes that count the most. Explain to them how estate planning is simply a way of shoring up their desires in a written and legal format.
Thinking about the incapacitation of your parents is not easy but tackling their estate plan will benefit them greatly. As you consider different options, make sure you are fully aware of the legal rights that your parents have in New York.