How To Discuss Finances And Estate Planning In Tampa With Loved Ones Over The Winter
Winter is one of the most eagerly anticipated times of the year, and all the lights, fun, and festivities surrounding the season provide a much-needed lift. However, getting caught up in the season can cause you to lose focus on important matters that should be discussed. Our Tampa estate planning lawyer explains how to use time with loved ones during winter to discuss finances and other vital topics.
Take Opportunities This Winter Season To Bring Up Finances and Tampa Estate Planning
When busy making winter preparations, the topics of finances and estate planning in Tampa are likely at the bottom of your list. However, the winter season offers the perfect opportunity to discuss important issues with family members.
Winter gatherings bring people together; quiet time after dinner or between other activities offers opportunities to talk. Rather than not having time, the real challenge is how to bring up finances and estate planning during winter visits. A November 2024 Kiplinger report recommends the following:
- Discuss what you are grateful for: Financial security and health are commonly cited and open the door for more in-depth discussion.
- Discuss recent family accomplishments: Whether it involves buying a home, starting a family, going back to school, or building a business, all are relevant to estate planning.
- Discuss future goals: Discussing what people hope to achieve in the coming year offers a perfect opportunity to discuss finances and estate planning tasks that should be completed now.
As a result of these talks, you can get a clearer picture of what is needed regarding trusts and other estate planning documents. Along with the practical benefits of these discussions, they also allow for deeper, more meaningful connections with loved ones.
Financial and Estate Planning Issues To Discuss Over Winter
Financial discussions are a perfect topic for downtime after Thanksgiving feasts, as these conversations can inform winter gift-giving strategies. They can also form a foundation for discussion of estate planning strategies and the documents that are needed. This includes:
- A will: The American Association of Retired People confirms that nearly half of adults do not have a will. Empathize that, regardless of age, a will conveys their wishes and protects them and other family members.
- A trust: The holidays are the perfect time for checking in with older loved ones. During quiet conversations, discuss how creating a Medicaid trust can help offset future medical care costs.
- Advance directives: A living will, health care powers of attorney, and other documents help determine the type of life-saving medical care each family member wants.
Request A Consultation Today With Our Tampa Estate Planning Lawyer Today
Worried about your family members and how to protect them in the future? Creating an estate plan in Tampa is often the first step. Bubley & Bubley, P.A. is here to help and provides the trusted, local legal guidance you need. Contact our office today and request a consultation with our Tampa estate planning lawyer.
Sources:
kiplinger.com/retirement/estate-planning/financial-topics-you-can-safely-discuss-at-thanksgiving-dinner
aarp.org/money/budgeting-saving/info-2024/times-to-update-your-will.html
medicaid.gov/
