Do Your Parents Have an Estate Plan?

Helping Your Parents Protect Themselves and Your Family’s Future

If you are part of the “sandwich generation”—caring for both your children and your aging parents—you face unique responsibilities. One of the most important (yet often most uncomfortable) topics to raise is whether your parents have an estate plan.

While the final decisions are theirs, helping them start or review an estate plan is one of the best ways to protect your family’s financial stability and emotional peace of mind.

1. Why It Matters

Without a proper estate plan, a parent’s assets may be subject to probate court, unnecessary taxes, and even family conflict. If they become incapacitated, no one can access their bank accounts, pay bills, or make medical decisions without a court-appointed guardian.
A comprehensive estate plan prevents this uncertainty and allows parents to define their own legacy.

2. Start the Conversation

Talking about wills, trusts, or incapacity can feel awkward. But a gentle, respectful approach—focused on your parents’ goals and comfort—can make it easier.
You might say:

“Mom, Dad, I just want to make sure you’ll always be taken care of and that we understand your wishes.”

Encourage them to meet an estate planning attorney together. An attorney can ensure the plan follows the laws, especially regarding notarization, witnessing, and trust funding.

3. Key Documents to Review

A strong estate plan usually includes:

Last Will and Testament – Names an executor and explains how property should pass.
Revocable Living Trust – Avoids probate and allows management of assets during incapacity.
Durable Power of Attorney – Allows a trusted person to handle finances if they can’t.
Health Care Proxy & Living Will – Appoints someone to make medical decisions and states end-of-life preferences.
HIPAA Authorization – Permits access to medical information.

List of Accounts and Advisors – Banks, insurance, retirement, doctors, etc.

4. Don’t Forget Digital Assets

Parents today may own online bank accounts, digital photos, or cryptocurrency. Without clear authorization, loved ones may not be able to access or close these accounts. Including digital assets in the estate plan ensures nothing is lost or left in limbo.

5. Update Regularly

Life changes—marriages, divorces, new grandchildren, property sales—should all trigger an estate plan review. Most attorneys recommend updating every 3–5 years or after any major life event.

6. How an Attorney Can Help

A qualified estate planning attorney can:

Review existing documents for validity under New York Estates, Powers and Trusts Law (EPTL).
Ensure powers of attorney and health care proxies meet NY State Department of Health requirements.
Help fund or amend a living trust to include newly acquired assets.

Advise on Medicaid planning, long-term care, and tax strategies.

Call to Action

If your parents don’t yet have a plan—or haven’t reviewed theirs in years—now is the time to talk. Our firm helps families in New York build estate plans that preserve dignity, reduce conflict, and protect the next generation.

Do Your Parents Have an Estate Plan?

1. Why It Matters

2. Start the Conversation

3. Key Documents to Review

4. Don’t Forget Digital Assets

5. Update Regularly

6. How an Attorney Can Help

Call to Action

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