Now is the time of year to spend time with family around the fire, enjoying the hot chocolate on a cozy afternoon. While you may be talking a lot about past experiences and good times spent together, it’s also a good time to plan for the future and see what everyone expects from each other.

Holidays make a great time to bring up your estate plan. What happens if you’re in a medical emergency and your medical power of attorney doesn’t know that they have a responsibility. Having a conversation with the people in your estate plan and what responsibilities you expect to see from other people and what they expect from you is important to make sure everyone is on the same page. 

Here are 5 reasons to talk about your estate plan this holiday season:

1. The Whole Family is Together
2. You Finally Have the Time
3. You’re Thinking About the Future
4. You’ve Added Something to Your Estate
5. If Not Now, When?

The Whole Family is Together 

Talking about death is understably uncomfortable. Talking about who will get what after someone passes can also create tension and discomfort in the group. However, it is much better to talk about it now then it would be after someone’s death and have the family surprised by how the estate is divided up. Many issues from anything from family bickering to legal action can be stopped by an upfront conversation with your family. 

Traditions bring the family together and so making important discussions a tradition at family gatherings should be something to strive for. Let all of the children settle in and get used to their surroundings but start and end the conversation before all of the festivities begin. Let the conversation flow naturally and foster an open environment for discussion. 

You Finally Have the Time

Everyone is busy during the holidays. This time is packed with gift shopping, preparing for family, and planning for those perfect winter nights. While still busy, this time of year generally has fewer day-to-day obligations. Because of those fewer obligations, this time of year can be good to have the conversations to name an executor of your estate. 

The executor of your estate is the person that will make sure that the probate process follows all of your wishes outlined in your will. Finding a person that you trust for this position is vital, and many choose to have it be someone in their extended family. 

Pieces of family history, such as the fancy china plates your grandmother had or a collection of coins that were passed down, are important pieces to outline in your will. Knowing who wants them and will take care of them when you are gone can give you more insight into what you would like to give to who. 

You’re Thinking About the Future

Many announcements and life-changing events happen around the holiday seasons. Marriages, kids, and many more. You may want to update your will or your trust to include those new individuals. The holiday season is always a fun time to see what announcements will be made, and it’s important to change your estate plan based on those announcements. 

You’ve Added Something to Your Estate

Gift giving is often something that comes with the holiday season. Individuals are more likely to give large gifts and to pass something down to a special someone. Changing your estate plan to match the assets that are in your possession can make for an easier transition at your passing. 

If Not Now, When?

The holiday times are a great time to talk to your family and make sure that everyone is on the same page. If due diligence is done then there will be no surprises at death and the family can focus on healthily grieving and not having to fight each other for all of the unanswered questions they have. 

Spend the time and reach out to an estate planning attorney to start the process today, or even to update your will or trust that is already made.