Retirement dreams like financial freedom, travel, and quality time with grandchildren are all important, but without proper estate and asset protection planning with your spouse or partner, those dreams can quickly become uncertain.

Early planning affects not just your finances, but your healthcare decisions, your children’s future, and your legacy. Yet in the U.S., over half of adults don’t even have a will, and 40% of those with no estate plan admit it’s simply not a priority. Shockingly, only about half of married couples have ever discussed their long-term life goals or end-of-life wishes with one another.

1. Start the Conversation

Planning for serious illness, injury, or death may be an uncomfortable topic to bring up, but avoiding it now can make things much harder, or even impossible, later when something actually happens.

The truth is, discussing estate planning doesn’t have to be as difficult as it seems. Once you understand what it involves, the discomfort usually fades. Talking openly with your spouse or partner about estate planning can become a smooth and even empowering conversation.

If you’re among the many who don’t have a financial or healthcare proxy, it may simply be because you don’t fully understand how important it is, or perhaps you’re not even sure what estate planning really entails.

Asking, “How about we get things organized and prepare?” is just another way of saying, “Let’s start planning our estate now.”

2. Don’t be Afraid to Ask the Hard Question.

Even if your spouse doesn’t immediately understand the importance of these conversations, don’t shy away from asking difficult questions:

• What should happen if one of you ends up in a coma or on life support after a car accident?
• How would you want to be treated in such a case?
• Who should make decisions if you’re unable to?
• Would you prefer a sibling, your child, or another relative to step in?

Without a clear plan in place, these unanswered questions can lead to family conflict, emotional stress, and even legal disputes.

Appointing an executor for your will and a power of attorney for health and finances can spare your loved ones a lot of pain and confusion during an already difficult time.

Find a calm, comfortable time to talk, perhaps over dinner or during a quiet lunch. Regardless of when or where you choose to have this conversation, your family relationships will likely grow stronger through it.

Estate planning tools may include a will, a trust, and the designation of financial and healthcare powers of attorney, someone who can act on your behalf if you become incapacitated. While every family has its own schedule and challenges, it’s important that you take ownership of your family’s future.

3. Star Now, and Do It Right

Proper estate planning can honor your final wishes, help your family avoid the costly and time-consuming probate process, and ensure that minor children or dependents with special needs are protected and cared for.

Though the estate process can be complex, preparing in advance makes it much easier for your loved ones to handle when the time comes.

Talking about incapacity or death can feel like relinquishing control, but in reality, estate planning is about taking control. It provides peace of mind, a sense of dignity, and the ability to truly enjoy your later years.

Before 2025 ends, let’s all take the first step toward a thoughtful estate plan, so we don’t find ourselves trying to fix the barn after the horse has already run off.