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During this meeting, you may want to cover these three areas:
First, explain your wishes, in a general way, regarding your goals as far as what you want to leave to your loved ones and possibly to charitable groups. And be sure to listen to your family members’ questions and concerns.
Next, discuss your estate planning documents, or the ones you plan to create, including a will, living trust and powers of attorney.
Also, talk about the roles you have envisioned for your family members in carrying out your estate plans. For example, you will need an executor for your will and a trustee for a living trust. Plus, you might mention your initial thoughts on who you’d like to serve for health care and financial powers of attorney.
You may need to hold additional family meetings in the future, but by laying the initial groundwork, you will have taken a big first step in establishing the legacy you’d like to leave.
This content was provided by Edward Jones for use by Tracy Milanese, your Edward Jones financial advisor at 6868 N 7th Ave, Ste 103, Phoenix, AZ 85013, 602-265-3437.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.