A new year has arrived once again! For many of us, the beginning of the year brings a renewed sense of motivation to accomplish goals, or become a bit more organized.

In the spirit of goal setting and getting organized, we encourage you to consider making 2025 the year of the family meeting.  We frequently encourage our clients to have a candid discussion with their family about their estate plan. Such discussions can open two-way dialogue and make sure everyone is on the same page. A family meeting is really just taking the opportunity to put this advice into action.

What is a family meeting? It’s just as simple as it sounds. A family meeting is an opportunity to gather your family, whether in person or virtually, to review your estate plan. You want to make sure that all of your children or loved ones who are involved in your plan have the opportunity to be present for the meeting.  By including everyone who is a part of the plan, you ensure that everyone hears the same messaging from you, which should minimize the risk of disagreements or confusion down the road.

During the meeting, start by reviewing the substance of your plan to make sure everyone understands what the plan says and how it works. Then, provide everyone with the opportunity to ask questions.  After you’ve reviewed the substance of the plan, you should also take the time to discuss your different preferences regarding the non-legal components of your plan. For example, be sure to discuss issues like your preferences regarding medical treatment in various situations, as well as your wishes for your funeral and burial or cremation.

Finally, if you are comfortable doing so, the family meeting is a great opportunity to review your finances with your family.  You do not have to provide dollar amounts, but it can be incredibly helpful if you take the time to review what different types of assets you have and with what companies you hold those various assets.

After you have your family meeting, we also recommend that you follow up with a letter.  A letter of intent can be a great way to recap what you covered in the meeting and provide any additional information that you may not have covered.  While having the family meeting is an important step to make sure everyone is on the same page, a follow up letter can ensure that everyone still have access to the relevant information many years in the future.

After reading this post, hopefully you understand the benefits of holding a family meeting to review your estate plan.  Consider adding this meeting to your list of 2025 goals. Don’t have an estate plan in place to discuss with your family? The attorneys at O’Diam & Estess Law Group would be happy to help. Give us a call today at 937-458-0574 to get started with taking care of this important task. Your family will thank you for it!