For most people, they recognize that relationships that they’ve built over the course of their life are more important than anything else. However, no matter how good of a saver, planner or investor you consider yourself to be, other people are almost always impacted by your actions and decisions including your failures and your successes. Those people are often the same ones you care the most about.
- What is in the will?
- What others need to know about your end of life choices?
- Who is empowered to make healthcare decisions for you if you are unable to do so?
- Are you currently living within your means?
A good introduction to a crucial family conversation is about values. This is because it is much easy for people to approach the subject talking about values than money. Relationships matter more than money and more than things and establishing your values gives you preliminary opener to talk about your long-term goals that you hope to achieve. Spouses and partners should also be prepared to openly discuss their savings, their retirement dreams and their plans.
Family values should be discussed with younger family members as well. Money related talks can be difficult to broach but can be extremely important for establishing a conversation that allows your loved ones to know your intentions. Finding the right estate planning lawyer in Virginia Beach can help you with your own decision-making.