Happy Father’s Day to all the great Dads out there! This Father Day, give back to your dad by helping him develop an estate plan. By offering your time to help your father create an estate plan, you are ensuring his protection as he has protected you all your life. You are also helping him to protect his loved ones and create a legacy.
The first step is to start a conversation. While estate planning can be a sensitive topic for some and your father may not be comfortable sharing his finances, it’s important to start the discussion and at least help him to start thinking about best next steps. Without an estate plan, he will be unable to choose who receives his assets, who carries out his plan, and who makes medical and financial decisions on his behalf if he is unable to make them for himself.
The next step is to find a good lawyer in the area to assist you with the planning. If your father would like, it may be a good idea to go along with your father for support and guidance since it is a new process. However, if your father is uncomfortable sharing financial information with you, helping your father choose an attorney and then letting him speak privately with that attorney could be a good option for him. It is not a good idea to do estate planning on your own since there are many risks. To learn more about why you should not do your own estate planning, check out our past blog.
For more information about estate planning for your Dad or to schedule a complimentary consultation, give our office a call. We would be happy to assist you!