It’s Not Just Pumpkin Spice Time—It’s Time for the Family Conversation!

As families come together for the holidays it is a perfect time to have what is referred to as “the Conversation” with aging loved ones. 

In my other “hat” as an estate planning attorney (not for Delaware clients, only those in Virginia, Maryland, or Washington, DC), I encourage my clients to not miss this opportunity to have these admittedly difficult or at least awkward discussions with their parents and others. As I remind folks, not talking about serious issues like disease, disability, dementia, or death (what I refer to as the 4 D’s–and then add in Denial as the 5th D!), does not mean things won’t happen. Rather, it just means no one will be really ready when those things happen.

It is not just a matter of getting estate planning documents in place. That is an important part of this process, of course, but a truly effective plan includes coordination of financial planning with the estate plan, and awareness by those entrusted in some legal role such as Power of Attorney Agent, Trustee, or Executor, of what you have, where it is, and what happens next. Those are all part of the Conversation and the action that comes from that. 

This link to a blog entry I wrote gives you more details on this process and provides you with some great free resources to help you get started with the Conversation. https://www.dbllawyers.com/its-not-just-pumpkin-spice-time-its-time-for-the-family-conversation/

One of the tools I provide my estate planning clients is what I refer to as the Peace of Mind Planning Roadmap Organizer. I am happy to share that with you free of charge if you email me at George@SafeHarborFinancialAdvisors.com and just put Roadmap in the subject line.

And if you would like assistance with the financial planning part of the Conversation action plan, please reach out to me to learn more about what a specialized retirement-focused, fiduciary, fee-only financial advisor can do for you. You can start by visiting our website at www.SafeHarbor.financial where you will find information about our cash flow approach to retirement planning, the value of using a Retirement Success Advocate, and a list of our standard projects and fees. Or you can call Safe Harbor at 302-313-6644 or email us at info@safeharborfinancialadvisors.com for an initial no-cost, no-obligation assessment meeting.

Best wishes for a wonderful Thanksgiving to all!