Estate planning is a task some people might procrastinate accomplishing. However, it may also be one of the most important tasks they ever do. It is essential for families to discuss estate planning, especially if their loved ones might experience a decrease in the mental abilities necessary to make financial decisions.
Sometimes families might have trouble discussing estate planning for a variety of reasons. For instance, some people might be embarrassed that they need help managing their finances. Others might be in denial that they need help with their estate administration. Still, other families might have some sort of sibling rivalry that prevents them from discussing who is going to handle an aging loved one's affairs.
There are signs that family members can look for to determine whether or not their loved ones are beginning to need assistance with their estates. For example, when their loved ones begin forgetting to pay bills or begin not paying them completely, they might need assistance. Additionally, when they begin making irrational purchases or going through their savings accounts, it could be an indication that their mental capacities are declining.
It is a good idea for people to have their wishes for their estates be laid out for them in estate planning documents before they get to a point where they can't handle them themselves. Additionally, once family members determine that their loved ones have developed conditions that are affecting their capacities to make financial decisions, they should strive to gain as much information about those conditions as possible. Then, they can help their loved ones come up with an estate plan and implement it. Probate lawyers may be able to provide beneficial counsel concerning estate planning.