Around the Holiday Table: Estate Planning Moments

The holiday season is a time when families come together across generations, sharing meals, stories, and cherished traditions. These moments are filled with emotional richness and are a perfect opportunity to have meaningful conversations about the future—specifically estate planning. While it might be an uncomfortable topic, discussing it now can bring significant peace of mind.

Did you know that nearly 55% of U.S. adults don’t have a will or estate plan? Without a plan, probate can consume 3–7% of an estate's value and take months or years to settle. Additionally, 58% of families without an estate plan report disputes after a loved one’s passing.

Questions to Consider

Here are some key questions adult children can ask their parents:

• Do you have an up-to-date will or trust in place?
• Who have you chosen to make financial and medical decisions if you’re unable to?
• Have you shared your wishes for medical care and end-of-life planning?
• If something happened tomorrow, would we know where to find your important documents and accounts?
• Are there heirlooms or traditions you’d like us to know the stories behind?
• Do you feel confident that the people you’ve chosen to handle your affairs are still the right ones?

Conversely, here are questions parents might ask their adult children:

• Do you know where to find my important documents in case of an emergency?
• Have you considered creating your own will or an estate plan?
• If you received an inheritance tomorrow, would you know what to do with it — or who to turn to for help?
• Are there family keepsakes or traditions you’d be heartbroken not to have carried forward?
• If you had to step in to help us — financially or medically — what support would you need?

It's important to bring up these topics during quiet moments or walks, rather than over the main meal, to ensure the discussion feels natural and relaxed.

Estate Planning: A Gift of Love

Estate planning isn’t just for the wealthy or elderly. It’s about:

• Control – deciding who will handle your finances, healthcare, and estate if you can’t.
• Clarity – ensuring your loved ones know your wishes instead of leaving them to guess.
• Care – protecting children, dependents, or pets through guardianship choices.
• Efficiency – avoiding unnecessary probate costs, taxes, and delays.
• Legacy – passing down not just assets, but values and family stories.

These conversations now can prevent confusion, legal disputes, and emotional pain later. Estate planning is a gift of clarity and love. If you feel unsure about where to begin or want help navigating these conversations, don't hesitate to reach out to a trusted advisor.