WHY SHOULD YOU CONSIDER HAVING A FAMILY MEETING WITH YOUR ESTATE PLANNING ATTORNEY?

As summer approaches, 'tis the time for family get-togethers. Summertime is one of the best times to

think about either creating or updating your estate plan. Why? Because, you will (most likely) be

spending time with your beneficiaries and agents. You will be able to assess their needs and how

responsible they are. How about having a family meeting with your estate planning attorney?

If you do not have an estate plan, then take this time to think about how you would want to distribute

your estate or who to put in charge after you are gone. Talk to your family and friends and get their

input. Take this opportunity to ask them if they are willing to act as your agent or as guardians for

your minor children. Naming agents in your estate plan that you know are willing to so act will give you peace of mind.

If you already have an estate plan, summertime is also the perfect time to decide whether or not

changes are needed. Are the people you chose to act as your Trustee or Power of Attorney still making

wise decisions? Are your beneficiaries of an age where they would act responsibly if they were to

inherit a sum of money from your estate? Do you need to add beneficiaries to your estate plan? Do you need to remove beneficiaries? Do you need to change percentages or ages to hold assets in trust? Or do you keep everything as-is? Questions such as these often come up when spending time with family and friends. But what if your family or agents and beneficiaries have questions about your estate plan that you do not know the answers to or do not feel comfortable explaining? The answer may be a family meeting.

What is a family meeting? A family meeting is a meeting with you, your family, possibly also your

agents or your beneficiaries, and your attorney, to discuss your estate plan. This meeting is typically

around two hours long. Your agents will have the opportunity to learn about their roles and duties and

to ask questions about the process of administering an estate after a death. Your beneficiaries will

have the chance to learn about how your estate will be distributed at your death. The amount of detail

provided during the meeting will depend on you and your wishes. One benefit of having a family

meeting is to allow all parties involved to hear the same information at the same time. This would

allow you or your attorney to address issues and concerns that your family may have. This meeting

may also reveal potential problems that can be resolved now instead of through litigation after your

death. It may be the best two (2) hours and Six Hundred Dollars ($600.00) you have ever spent.

If you want to learn more or have questions about having a family meeting, please contact Rehberg

Law Group at 206.246.8772.