Do Your Parents Have an Estate Plan?
October 15, 2025
Crucial Areas to Discuss with Your Parents
If you are part of the "sandwich generation"—caring for both your children and your parents at the same time—it is crucial that you know whether or not your parents have an existing estate plan. While the final decisions within their estate plan rest with them, creating a comprehensive estate plan is an absolute necessity, regardless of when it is done.
The thought of speaking with your parents about important and often sensitive topics
like their finances and estate planning probably makes you want to run as fast as you can in the opposite direction. Nonetheless, having this conversation is the key to ensuring that your parents are able to live their golden years without financial worries and that their wishes are carried out after their death.
Estate Planning for Your Parents
Initiating conversations about your parents’ future, especially concerning their finances, medical care, and memorial wishes, can be challenging, but it is undeniably one of the most important discussions you can have with them. Addressing these topics sooner rather than later benefits everyone involved and ensures greater peace of mind and preparedness for the future. This crucial dialogue should encompass plans for when one or both parents pass away as well as scenarios where they become incapacitated and unable to manage their own affairs.
To help ensure that their estate plan is comprehensive and aligns with their wishes, consider discussing the following key areas with your parents:
● A Team Effort
Encourage your parents to compile a list
of their advisors, starting with legal and financial professionals, including their contact information. This list should also include the contact information for your parents’ doctors so that whoever they nominate as their health care agent can reach them if necessary. Even if they prefer not to share the list immediately, they can create it and let you know where to find the information if the need arises.
● Last Will and Testament or a Trust
If you discover that your parents do not currently have a last will and testament (also known as a will) or revocable living trust (also known as a trust), it is probable that they do not have other essential estate planning tools, as these important tools are often created as part of a comprehensive estate plan. If they do have a will in place, confirm when it was created, who the personal representative or executor is, and where the original wills are stored. Similarly, if you discover that they have a trust, you will want to confirm who the trustee is, whether or not they have funded property and financial accounts into their trust, and where the original trust documents are stored. Stress to them that you do not need to read their will or trust in its entirety, but knowing where to find the original documents is crucial to ensuring that their wishes are carried out
when the time comes.
● Medical Directives
While discussing your parents’ estate plan, confirm whether they have created a living will (also known as an advance directive) and a medical power of attorney. These important tools allow someone to make medical decisions on their behalf if they are unable to make or communicate their own medical decisions. If you discover that they have these tools in place, encourage them to have a conversation with their chosen agent under their medical power of attorney to ensure that the decision-maker understands your parents’ feelings and wishes about both their medical care preferences
as well as their end-of-life care, such as how their medical affairs should be handled
should they become incapacitated and whether or not they want to be on life support.
● Insurance Policies
It is important for you or your parents’ trusted decision-makers to know what insurance policies they have
and where documentation is located, especially if one or both parents become incapacitated. This includes health insurance (private or Medicare), life insurance, homeowner’s insurance, auto insurance, disability insurance, and long-term care policies.
● Financial, Investment, and Retirement Accounts
Encourage your parents to create a comprehensive list of their checking, savings, brokerage, mutual fund, pension, and retirement accounts.
This list should include where each account is held, account numbers, and the names of any key contacts at the institution. Just as important, your parents should have a financial power of attorney in place so that a trusted individual can step in and manage these accounts if your parents are traveling, ill, injured, or otherwise unable to manage their affairs. An experienced estate planning attorney can draft this document, but it is also wise to ask whether the financial institutions involved require their own power of attorney forms, since these are often more readily accepted. Having a valid power of attorney ensures that someone can access and manage your parents’ accounts, whether checking, investment, or retirement, so that day-to-day expenses are covered and long-term financial needs are met during incapacity and beyond.
Why Estate Planning Matters
Failing to put together an estate plan often leads to chaos, excessive costs and taxes, unnecessary court involvement, inadequate incapacity planning, potential hurt feelings, delays in distributing inheritances, and even unexpected outcomes after death.
Fear and discomfort can keep you from having this important estate planning conversation with your parents. As estate planning attorneys, we can provide your parents with guidance and advice on what options are available to them so that their wishes are followed upon their death.
Contact our offices for a free consultation today.
Need a probate attorney in Boca Raton, FL? Blade & Blade, P.A. offers expert probate help. Call 954-429-1200 now for clear, reliable support.
Learn why Estate Planning matters with Blade & Blade P.A. in Boca Raton, FL. Protect your family’s future—call (954) 429-1200 or click here to start.
As the New Year begins, many of us take the opportunity to set goals for personal growth, financial stability, and overall well-being. While these resolutions often include exercising more or saving money, one essential goal that often gets overlooked is estate planning. For Florida residents, the importance of establishing or updating an estate plan cannot be overstated. Here’s why making estate planning a priority this year is one of the best decisions you can make for yourself and your loved ones. What Is Estate Planning? Estate planning involves preparing for the management and distribution of your assets in the event of your incapacitation or passing. A comprehensive estate plan typically includes a will, powers of attorney, healthcare directives, trusts, and beneficiary designations. It’s not just for the wealthy—anyone with assets, children, or specific wishes regarding their healthcare or property can benefit from having a plan in place. Why Is Estate Planning Critical in Florida? Protecting Your Loved Ones Florida’s probate process can be lengthy and costly, potentially causing stress and financial strain for your family. By having a well-prepared estate plan, you can simplify or even avoid probate, ensuring your loved ones have access to the resources they need without unnecessary delays. Avoiding Intestate Succession If you pass away without a will, Florida’s intestate succession laws dictate how your assets are distributed. This can lead to outcomes that may not align with your wishes. Creating a clear estate plan allows you to determine exactly who receives what, giving you peace of mind that your legacy is protected. Addressing Unique Florida Considerations Florida’s homestead laws, which protect your primary residence from creditors, and its tax-friendly environment make estate planning especially advantageous. However, these laws also introduce complexities that require careful planning to ensure your assets are handled as intended. Preparing for Incapacity Estate planning isn’t just about what happens after you’re gone. Documents like a durable power of attorney and healthcare surrogate designation ensure your financial and medical decisions are made by someone you trust if you become incapacitated. Steps to Start Your Estate Plan Take Inventory of Your Assets: Identify your property, financial accounts, and other assets. Don’t forget to account for non-tangible items like digital accounts or intellectual property. Define Your Goals: Decide how you want your assets distributed and who should make decisions on your behalf if you’re unable to. Consult an Estate Planning Attorney: Laws vary by state, and working with an attorney familiar with Florida’s estate laws ensures your plan is legally sound and optimized for your situation. Blade & Blade, P.A. offers a free consultation which can be done in person at our offices, Zoom or by phone. Update Beneficiary Designations: Ensure accounts like life insurance, retirement funds, and payable-on-death accounts reflect your current wishes. Communicate with Your Loved Ones: Discuss your plans with family members to minimize confusion and potential conflicts in the future. Make It a New Year’s Resolution Starting or updating your estate plan doesn’t have to be daunting. Break it down into manageable steps and set realistic timelines to complete each phase. By prioritizing this goal early in the year, you can approach the months ahead with confidence, knowing you’ve taken a significant step toward securing your family’s future. Final Thoughts Estate planning is not a one-size-fits-all process. Your plan should be tailored to your unique needs and Florida’s specific legal environment. As you set your New Year’s resolutions, consider the peace of mind and security an estate plan provides. It’s an investment in your legacy and your loved ones’ well-being—one that will pay dividends for years to come. Take the first step today and make 2025 the year you prioritize estate planning. Your future self—and your family—will thank you. Give us a call at 954-429-1200 to schedule a consultation!
Estate planning lawyers in Boca Raton, FL, can help with wills, trusts & asset protection. Secure your future! Call Blade & Blade P.A. at (954) 429-1200 today.
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