For most of us, holiday time means time spent with the family, and this may be just the opportunity to schedule some time to address important issues with your aging parents.
While we don’t recommend bringing these concerns up around the holiday table, we do recommend setting time aside to calmly ask the following questions:
- Do you have an estate plan? An Estate Plan outlines one’s wishes of what to do with his or her finances and belongings after death. Regardless of how much money you have, an estate plan is necessary to ensure that your wishes are honored. You wouldn’t want your estranged sister to inherit your grandmother’s engagement ring over your daughter, would you? If these types of requests aren’t made clear in a Last Will and Testament, in Pennsylvania, the state will make these determinations.