An Important Conversation to Have With Your Parents

It’s a hard fact of life that our parents won’t be here forever. No matter how old they are, we are never fully prepared for them to die. Sirach 18:9-10 tells us, “The number of their days seems great if it reaches a hundred years. Like a drop of water from the sea and a grain of sand, so are these few years among the days of eternity.”

While estate planning is not the most uplifting topic, it is important that we talk to our parents to ensure their stewardship efforts continue after they are gone.  Discussing estate planning can be a very sensitive topic, yet it can also bring them a great deal of comfort to know that they are preparing to leave everything in good order.

If you’re uncomfortable at the thought of bringing up the topic, Compass Catholic offers a guide to help you and your parents have a mutually beneficial discussion:

• Can I help you organize your important documents? Offering to get involved in organization may come as quite a relief to your parents, as it may be something they are putting off in dread. They’ll appreciate the suggestion and your efforts to help them.
• Who are your advisors?
• Have you made a full inventory of your property?
• What are your thoughts about long-term care? Health issues can arise at the drop of a hat so it is important to be prepared in advance. Bring up a number of options, including in-home, hospice, and nursing home care during this discussion and find out what our parents prefer.
• Will you make a charitable gift through your estate? Encourage your parents to continue their stewardship plans even in death. Discuss their favorite charities and the causes that are important to them and help them make a plan for bequests in their wills.
• How can I help you leave a family legacy? So many times death comes unexpectedly and all the treasured family stories and family history are lost. Your loved one may appreciate help in doing a legacy letter or a video about the family, how they met and fell in love, what they remember about their childhood, etc. This memory can then be passed on for generations.

These are just a few questions to help you get started. Should you need assistance, there are many websites dedicated to estate planning topics. Additionally, the experts and trusted advisors named by your parents should be able to provide you with the information you need to help ensure their estate plans are created in your parents’ best interests.

Estate planning is just one aspect of Stewardship. The experts at Compass Catholic offer a number of great tools to help you along your journey to stewardship, whether you’re just embarking or nearing your destination. Browse through our blogs, or call us today at (844) 447-6263 today.