|Ways to Give
Charitable Gift Planning
10 Important Questions to Ask Your Parents
As your parents grow older, it becomes even more vital for them to have their
estate plans in order. Although it may be uncomfortable to initiate the topic,
it's a good idea to sit down and talk with them about their end-of-life wishes,
and to help them organize and record those wishes.
These tips will help you have a smooth discussion:
Find Out What You Need to Know
- Ease into the conversation by talking about your own experiences with estate
- Begin with basic, easy-to-answer questions before moving on to more sensitive
- Remain nonjudgmental.
- Don't be afraid to laugh and reminisce.
- Take a break. Plan more than one session to avoid an exhausting, stressful
Use these 10 questions as a guide to navigate through this sticky subject.
1. Do you have an up-to-date will?
By starting with this question, you can then let them know you would like to talk
about plans they have made for the future.
2. Is there anything I can do to help
get your other important documents in order? This question provides an
opening to talk about banking and credit card information, trust documents, insurance
policies, and other important records.
3. Have you told someone where these
documents are located? Assure them that they don't have to tell you what
is in those documents but that it's a good idea to make sure someone, like an
attorney or friend, knows where they are and how to access them.
4. Have you had a chance to take an inventory
of your major items of property, including furniture, jewelry, art and other collectibles?
If the answer is no, suggest they create an inventory list on the
computer or make a videotape inventory.
5. Have you thought about the advantages
of making a charitable gift through your estate? It allows you to keep
your assets during your life, in case you need them, while you help nonprofit
organizations such as Tallahassee Memorial HealthCare Foundation, Inc. after your lifetime.
6. Would you like to share the names
of your key advisors, attorneys, financial consultants, accountants and insurance
specialists? Find out if their advisors have counseled them about the
best ways to protect their assets. Offer to help them find trusted advisors if
they do not have any.
7. Would you like to share information
about your final wishes or funeral arrangements? Being aware of this
information now will make the time when they pass away less stressful.
8. Have you named a trusted person to
make health and financial decisions for you if you are no longer able to make
those decisions yourself? If you are the person they'd like to make decisions
on their behalf, ask for details on how they would like those decisions carried
9. What are your feelings on long-term
care? Find out if they are interested and, if so, what type they have
in mind (e.g., home care, senior housing, etc.).
10. Is there anything else you'd like
to discuss? This is always a good wrap-up question. It gives your parents
the opportunity to talk about other matters or concerns.
These questions will not only ensure that your parents have their estate plans
in order, but they should also encourage you to put your own plans in place.
If you have included Tallahassee Memorial HealthCare Foundation, Inc. in your
estate plans, please let us know so we can properly thank you. Contact Paula S. Fortunas
at 850-431-5752 or firstname.lastname@example.org.
Copyright © The Stelter Company, All rights reserved.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.
Related Planned Giving Links: