Most adult children do not want to think about a future without their parents in it. Unfortunately, this is the natural life cycle, but it can be more comforting for all parties if heirs know about their parent’s estate plan. Adult children and their parents can take proactive steps so no one encounters an unwelcome surprise after a loved one passes. One of those proactive steps is adult children being informed about their parent’s estate plan.
For adult children, there are three key factors they should be informed about regarding their parent’s estate plan.
Who is the Executor?
This is a critical first step in executing an estate plan. An executor is responsible for carrying out the wishes of the person who created the estate plan. An executor should know about this responsibility before a person’s passing.
The best way to find out who someone’s executor is is to ask them directly. If the parent is uncomfortable discussing their estate plan, an adult child can also look for the executor’s name in their parent’s will.
Where is the Will or Other Essential Documents?
A will should be located in a safe place where the executor can easily access it. It is important to keep the will up to date and in good condition so it can be easily read and interpreted by the executor.
Any Additional Information Should a Parent Becomes Incapacitated
If an adult child’s parent becomes incapacitated, it is important to know if they have a power of attorney or other documents outlining how they wish end-of-life care to be administered. There are multiple types of power of attorney, so knowing this information before a critical event happens is essential so that someone can make decisions on a parent’s behalf.
Questions About Your Parent’s Estate Plan?
If your parent is open to talking to you about your estate plan, or if they have passed and you have questions about how to proceed with their estate, the attorneys at Jerimy Kirschner & Associates, PLLC are here for you. It’s best to have this information known sooner than later, and our dedicated group is here to help no matter your situation. Contact us online or by phone today. (206) 203-8802