Do you have a signed and executed will or any other elements of an estate plan in place? If so, you are already ahead of more than half of American adults.

Next question: Have you had in-depth discussions about estate planning with your children and other important family members? If so, you and your family are well prepared for unexpected surprises—assuming your estate plan addresses all or most of the details that are significant to you and your loved ones.

Final question: Would your children agree that you have had the necessary conversations and do they know where to find important documents, passwords, and account information? Unfortunately, serious disconnects in communication are all too common when it comes to estate planning.