DAL Law Firm: 5 Estate Planning conversations millennials need to have with their parents, part 1
Many Millennials assume their parents already have an estate plan in place — but that’s not always the case. And when families avoid these conversations, it can lead to confusion, conflict, and costly legal issues later.
In this 5-part blog series, I’m going to walk through the most important estate planning conversations millennials should have with their parents, including discussions about wills, trusts, powers of attorney, healthcare directives, and end-of-life wishes. These conversations can feel uncomfortable, but they are one of the most important steps families can take to protect each other.
As an estate planning attorney, I see firsthand what happens when families are unprepared. Having these conversations now can help ensure your parents’ wishes are respected and can make an incredibly difficult time much easier for everyone involved.
Do Your Parents Have a Will or Trust? The First Estate Planning Conversation Millennials Should Have
If you’re a Millennial with aging parents, there’s a conversation many families avoid, but they shouldn’t. And what is the conversation about? Estate planning.
It’s uncomfortable to talk about. No one enjoys thinking about aging, illness, or death. But avoiding the conversation can create stress, confusion, and unnecessary legal complications later.
So if you’re not sure where to start, here is the first and most important question to ask your parents: Do you have a will or trust?
This may seem like a simple question, but it’s foundational. Let’s do a brief overview of both options:
- A will outlines how someone’s assets should be distributed after death and names a person (an executor) responsible for carrying out those instructions. Generally speaking, a will requires probate upon the person passing.
- A trust (known as a revocable living trust), on the other hand, can allow assets to be managed and transferred without going through probate court.
If your parents do have an estate plan, whether it’s a will or a trust, there are a few important follow-up questions to ask.
When Was It Last Updated?
Estate plans should not sit untouched for decades. A will written 20 years ago may no longer reflect your parents’ wishes or their current life circumstances. Updates may be needed if there have been:
- New grandchildren
- Divorces or remarriages
- Significant changes in assets
- Moves to a different state
I frequently see families relying on documents created many years earlier, which can lead to confusion or unintended outcomes.
Why This Conversation Matters
When families avoid estate planning conversations, adult children are often left scrambling later.
They may have questions like:
- Did my parents have a will?
- Did they intend to create a trust?
- Who is supposed to be in charge?
Without answers, the process becomes much more difficult. Starting the conversation now allows everyone to understand the plan and prepare for the future. And the good news is that this conversation doesn’t need to be dramatic or overwhelming. You might start with something simple like:
“I’ve been thinking about estate planning lately. Do you already have a will or trust in place?”
That one question can open the door to an important discussion.
If you’ve been putting off this conversation, I encourage you to make this a priority and to have the conversation. If you want to learn more about estate planning to have a better general understanding, visit our YouTube channel for all things estate planning, probate, and real estate: https://www.youtube.com/@dallawfirm
Make sure you stay tuned for our next 4 estate planning conversations millennials need to have with their parents. If you or your parents need help with their estate plan, you can visit us online at: www.dallawfirm.com. If you visit our website, make sure you download our free estate planning guide! It covers estate planning options, the process, and pricing.
Contact us:
19803 1st Avenue S.
Suite 200
Normandy Park, WA 98148T (206) 408-8158
F (206) 374-2810
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