You don’t need to share all the details of your will, but you and your children can benefit if you discuss certain estate planning topics.
Naming your executor. Do you have one child and wish to name them as your executor?1 Make sure they understand the duties involved and are willing to assume the role. If you have two or more children, find out their views about becoming your executor so you can determine whether you’ll name one child or designate co-executors.
Planning for a vacation property. You may assume you’ll be handing down the family vacation property to your children, but you’ll need to change your estate plan if not all children want to inherit the property.
Making unequal inheritances. You may have a reason for bequeathing different amounts to each child. For example, you might leave less to one child because you gave them funds to make a down payment on their first home. Discussing such matters can help prevent discord among your children and avoid any resentment toward you.
1 Or estate representative, estate trustee, liquidator, personal representative or administrator, depending on the province.
