ABA Family Legal Guide

Estate Planning

Estate-Planning Basics

My spouse doesn't like to talk about finances or estate planning. What should I do?

You can't plan your estate if you don't know all the facts about your family's assets. Yet many people don't have basic information about their spouse's income—how much he or she earns, what benefits he or she is entitled to, what his or her assets and debts are, and where assets are invested.

You need to know this information when planning your estate. It's especially important to know who holds title to real estate and what is known as titled personal property—for example, automobiles, boats, and recreational vehicles. It is also important for you to know the beneficiaries of your spouse's insurance policies, pension plans, retirement accounts, and other similar assets.