Have you tried to communicate with your family in your planning documents?
Most people do not communicate with their children about what is to happen with their property when they die. Even more important, few people communicate with descendants, including grandchildren, about what they think is important in life. What is important to you? What have you communicated?
We often tell clients that their family (children and grandchildren) should hear their voice in the plan that is being done. Do you think your grandchildren might remember something like this if it was in your will or living trust?
“We love you and want you to have this from us. We worked hard for what we acquired in our lifetime. It was earned slowly over a long period of time. As we make this distribution to you, we want to request that you use it wisely and not consume it quickly.”
How different is this from simply stating:
“To each grandchild, $XX,000.”
“We have always believed it is important to “give back” to our (church, community, charity, etc.). Please honor us be making this distribution that we have set aside for this purpose. This (cause, church) has been important to us because ______________. We hope that this is a lesson that might extend beyond the two of us and that giving back might become a tradition for our descendants.”
“Family is most important. There is nothing more important to us than that you all retain the good relationships that you have. Don’t just email and text. Pick up the phone and hear each other’s voices. Find times to get together and give and get hugs, let alone prepare and eat good food together. These relationships can see you through some pretty hard times. There are times when money means nothing and a caring family member means everything. We would like for our children to find a time to gather together and contemplate who we are as a family and who you want to be as time goes on. We love you all.”
Letting your family hear your voice can be extremely powerful and something that is not forgotten. We can help. Contact our Wichita office at 316-729-0100.