In many Black & Brown communities, estate planning was not something we talked about as we were growing up. I mean, in MY family, estate planning was never a topic of conversation at the dinner table. None of my friends families were talking about it either. But my generation Gen Xers are talking about it. I started talking to my son about it when he was 14. Some people may say that a teenager isn’t interested in such talk. I say you’re wrong.
I don’t know about you, but the only time people in my family spoke about anything relating to an estate was who has insurance to cover the funeral. That’s sad. Well as an entrepreneur, a Mogul if you will, I want to make sure my assets are protected, but also that my son is 1) knowledgeable about my assets and 2) set to inherit them without a bunch of foolishness when I die. And don’t think estate planning needs to be a morbid conversation that’s left until you absolutely have to talk about it.
Today my guest and I will be talking about how to have the tough conversations and set your family up for an easy transition.
But first, ask yourself 2 questions:
- What happens if I die tomorrow, and my family is caught off guard?
- And, what does my estate plan look like?