A client in his mid-forties recently signed their Will and Trust, and commented that his parents really needed handle their estate planning arrangements.  So, how can an adult child convince his or her parents, who may be stuck in their ways, that they need to have a Will?

First, it’s important to know that we all have a free Will provided by the State, it’s called dying intestate.  I have written on this before, so this idea should be nothing new.  The “free Will” states who will receive a parent’s estate.  Since every situation is unique, dying without a Will often results in the wrong persons receiving the wrong sums from an estate.  Therefore, writting a Will, even if it is a basic Will, is generally better than having no Will at all.

Second, there are many misconceptions about writing a Will.   The biggest one relates to its cost.  Perhaps your parents are not eager to get a Will because they believe that they are expensive.  The cost to prepare a good estate plan varies greatly from one client to another, but cost effective estate planning can be achieved for everyone of us.

Third, when someone asks about a “Will”, I think more of an “Estate Plan.”  The latter includes directions on medical decision-making (health care powers of attorney and living wills) and financial assistance (power of attorney).  Because of this broader view, you may want to explain to your parents that they should memorialize their wishes for financial and health care decision-making to avoid confusion and friction in the future.  For example, if you have three siblings and your parents do not name a medical surrogate for decision-making, then delays in their care may result when their doctors must interact with four of you.

Probably the biggest hurdle in helping your parents with their estate planning is simply initiating a discussion with about its importance.  After all, they might still think of you as their “baby” and will not feel comfortable talking to you about it.  If you are working on your planning, then a good ice-breaker on this subject might be to seek their advice on some of the issues that you are considering.  You probably will get some wisdom from your parents on how to protect your children, and although you are their ”baby”, they see that you are also setting a very good example for them to follow.