Your estate plan is not just important to you but also to the people you included. Perhaps you named several close family members and friends as beneficiaries in your will. You likely have given the role of executor of the estate to someone you know.
One of the considerations to make as you draft an estate plan is discussing the content of your legal documents with those included. For some people, that would not be an issue, for others, it might. Here are some pros and cons of discussing your estate plan with family members and friends:
Pros and cons of talking to beneficiaries
Talking to your beneficiaries about the contents of your estate plan can give them an idea of what they should receive after you pass away. This could give you the chance to discuss with your beneficiaries about other assets they may wish to inherit.
However, some beneficiaries are not always pleased to hear what assets they might receive. They may want more than what is being given to them. They may even create issues with other beneficiaries because of what they are set to inherit. You likely are the only one who knows if talking to your beneficiaries will lead to issues or not.
Pros and cons of talking to an executor of the estate
Your executor is responsible for settling your estate. Letting them know the contents of your will can help them prepare for their duties when the time comes. Most importantly, you may need to let your executor know the location of your will
However, talking to your executor about their responsibilities may overwhelm them. Your executor may not know if they are fit for the role. This could cause you to need to find a new executor.
As you draft your estate plan and make larger considerations about the future, you can reach out for help to learn more about your legal options.
