However, in some family situations, children may be included. Most people do not have enough time to learn all they need to know about estate planning or to keep up with the changes in laws. However, there are qualified professionals who can help design and implement an estate plan. A good estate plan is one that meets your family s economic and legal objectives. The objectives should be coordinated.
Most family members hesitate to discuss estate plans with one another.
Look for ways to stimulate estate planning discussions with your family. Encourage children to participate if they are old enough to understand. Identify current assets and debts . An accurate inventory of your assets and liabilities will give you an idea what you should do, your needs and how to distribute your property. List the real and personal property you own, indicate type of ownership and the realistic market value.