It’s no secret that our world is rapidly changing around us. It shakes every expectation we’ve had and asks us to adapt as quickly as the world does. It’s very likely we also need to change how we see the future.
Many couples may have specific expectations for their future, including retirement and estate distribution. However, worldly changes may cause couples to reevaluate their ideas and ask new questions.
Choose the topics
When broaching the conversation, a spouse must know what to cover beforehand. For example, they may want to discuss the shifting family dynamics, what assets are included in their estate or should we adjust our current plans.
Setting up the topics before allows you to come prepared for your expectations and helps guide the conversation effectively for you and your significant other.
Hear your partner out
A significant part of any conversation is to listen to the other person. When you’re discussing a shared estate, it’s imperative to listen to your partner’s wants and needs. If you take the time to hear them out, you may find there are a lot of similarities and differences in how you want to approach guardianship or asset distribution.
Do not be afraid to disagree.
The most intimidating aspect of a challenging conversation surrounding estate planning is the potential for disagreement. You do not want to cause a fight with your partner over who gets the house in the will. However, it’s reasonable to disagree about certain aspects of your plan.
If you disagree, be open to compromise and know where you draw your line in the sand. You should not have to ultimately succumb to your partner’s wishes if you feel strongly about a particular detail. Take your time to explain why it’s important to you and give them time to respond. It may help both of you in the long run.
The possibility of challenging an estate plan in a changing world is scary. However, you can always modify and work with your spouse to adjust the plan when it’s necessary. You will feel more prepared if you these conversations now.
