Psychiatrists have long equated the reluctance to write a will, prepare an advance directive or estate plan, with fear of dying.
Who wants to think about planning for death? We have to confront our mortality. No more illusions that it won’t happen to us. We have to face giving up our possessions and power. We have to deal with uncomfortable subjects like aging, illness, death, inheritance and a host of other things we’ve managed to avoid thinking about.
Having the ‘money conversation’ is rarely ‘just about money’. It’s also about family dynamics, mistakes, regrets, guilt, and a host of other issues. Children feel morbid, greedy and intrusive asking their parents questions about money and death. The parents don’t want to start conversations about ‘touchy’ subjects either. The result – people procrastinate, hoping for the best. Hope is not a strategy. It’s a procrastination tool and most often, it doesn’t work.
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Check out the guide for opening the conversations that matter between parents and children.Follow the check lists for what parents need to put in place so children aren’t burdened with a financial and legal mess after parents die.
It’s truly an act of love for parents to get their affairs in order.