If you have gotten to the point of deciding on how you want your assets divided once you are gone, you probably are wondering whether and/or when to talk to your family about your plans. You might be thinking it’s my money and they don’t need to know anything about my plans. There are compelling reasons to involve your family in your estate planning process.
Remember that you aren’t asking their permission to plan your estate. You aren’t necessarily asking their advice either. By planning the disposition of your assets, you are securing your own peace of mind that your heirs are taken care of and your affairs are in order. In addition to these practical considerations, you want your planning to reflect your values and priorities. For example, most people believe we should leave the world a better place than you found it.
To that end, leaving a bequest for St. Sebastian's is a good way to express your values to your family. But if the first time your heirs learn of your charitable intent is at the reading of your will, you’ve lost the opportunity for a teaching moment.
If you talk to your family while you’re making your estate plan, you can explain why our organization is important to you and how we make the world a better place. You can answer their questions and describe how participation in our mission is an expression of your values and principles.
Of course, not everyone in your family may understand why making a gift from your estate to charity is important. Once again, you aren’t asking for their permission or their opinion. You are expressing your beliefs through the way you distribute the legacy of your life’s work. The conversations around your planning may not result in consensus, but you will have the opportunity to talk about what is important to you.