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Creating Peace of Mind Through Family Planning Conversations at HP

“HP employees who foster open-ended family dialogues and co-create a shared vision around their estate plans can replace lingering uncertainty with genuine confidence—and for personalized guidance, consult a legal, financial, or tax advisor” – Patrick Ray, a representative of The Retirement Group, a division of Wealth Enhancement.

“By inviting open, curiosity-driven discussions around estate planning, HP employees can transform documents into a living blueprint for family unity. Yet, for tailored advice, it’s best to consult a legal, financial, or tax advisor” – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article we will discuss:

The role of meaningful, informed conversations in finding genuine peace of mind.
Three intentional steps to engage HP families in collaborative estate planning.
Practical strategies for aligning legal documents with family values and long-term goals.

Arthur has made financial services his life’s work, thoughtfully preparing for every aspect of his family’s future. He's provided his wife Estelle and their three adult children with contact information for his lawyer, Sam, who works closely with Arthur’s financial advisor. Whenever the subject of estate planning arises, Arthur calmly reassures them, “You honestly have nothing to worry about—just call Sam.” While well-intentioned, this approach overlooks a key truth: real peace of mind comes not from handing over a name, but from meaningful, informed conversations—something that may resonate deeply with many HP employees and their families.

Insights from the Generations Project's℠ Later-in-Life Conversations Study, conducted by the Fidelity Center for Family Engagement, reveal that peace of mind is among the top two goals in later-life planning discussions for baby boomers, Gen Xers, and millennials. ¹ Despite this, it remains one of the least addressed subjects. A surprising 66% of parents admit they are hesitant to discuss this with their children. ¹ When family members lack clarity, uncertainty—and anxiety—can quickly grow.

Notably, peace of mind appears to stem from open dialogue about long-term goals, setting clear expectations, and providing family members with easy access to trusted information. This includes decisions about beneficiary designations, executors, health care proxies, wills, trusts, and dependent care insurance. Without such clarity, family members may experience what Dr. Timothy Habbershon of the Fidelity Center for Family Engagement calls “wondering anxiety”—uncertainty about long-term financial needs, health incidents, or how estate plans may affect them.

Dr. Habbershon contrasts this with the clarity gained from openness and thoughtful conversation. Transparency is the remedy to the discomfort caused by unasked questions. By speaking candidly and exchanging ideas, families—HP employees included—can replace lingering anxieties with productive dialogue rooted in trust and understanding.

Those who realize that documents alone are insufficient should take one step further: encouraging active participation. To foster true peace of mind and deeper family bonds, consider these three intentional steps:

1. Ask What Questions Family Members May Have

Effective planning begins with curiosity. Instead of explaining or defending existing plans, start by listening. Arthur could begin the conversation with Estelle and their children by asking:

- “What part of our planning feels unclear to you?”

- “How does our current approach impact your sense of comfort?”

- “What else would you want to know to feel more confident about our future?”

By resisting the urge to justify decisions, Arthur uncovers the uncertainties behind their concerns. Posing follow-up questions like “Can you expand on that?” or “What would make this clearer for you?” invites deeper dialogue and mutual respect.

2. Invite Input on the Planning Process

For Wealth Enhancement advisor Michael Corgiat, a guiding principle is to enroll adult children in the planning process now, when you can have informed discussions. Too often, even well-meaning planners take a “we know what’s best” approach. By clarifying your intentions in advance, and in your own words, you can help strengthen connections—something HP families may find especially valuable.

Arthur might ask:

- “How does this process feel from your perspective?”

- “Do you feel you’ve had enough input?”

- “What changes might help you feel more included?”

These questions focus less on legal language and more on collaborative engagement. Giving family members a role in the process builds confidence and reduces anxiety around future changes.

3. Co-Create a Vision for Later Life

Planning is not just about future legal steps—it’s about present-day relationships. Encouraging family members to think together about how they want to spend time, support one another, and adapt to change brings emotional and practical priorities into alignment for HP households.

Arthur might ask:

- “What shared experiences should we prioritize in the coming year?”

- “Which conversations or activities would feel most meaningful?”

- “How should we navigate shifts in care, housing, and health needs?”

These discussions allow families to align financial and legal tools with their personal values. By bringing everyone into the conversation, Arthur reinforces not only clarity, but also family unity.

Bringing It All Together

Estate planning documents are important, but they’re only part of the story. The conversations that surround them create the true emotional foundation for peace of mind. Families that engage in open, participatory planning are more likely to feel greater confidence and less uncertainty about the future. In contrast, the 66% of parents who shy away from these conversations risk leaving loved ones confused and concerned.

HP employees can take three practical steps to shift from good intentions to meaningful family engagement:

1. Use curiosity-driven, open-ended questions to draw out concerns.

2. Seek feedback about the process, not just the outcomes.

3. Build a shared vision that blends daily life with legal planning.

This inclusive approach helps transform vague concerns into actionable clarity. Discussions about wills, trusts, proxies, and beneficiaries become shared efforts, illuminating financial, legal, and emotional priorities. The result is an environment of mutual trust, support, and understanding—a space where true peace of mind can grow.

According to Fidelity’s State of Wealth Mobility study, 56% of adults never had discussions about money management with their parents, yet among families that do, two-thirds actively engage in estate and retirement planning—with a significant boost in confidence as a result. ²

Just as an orchestra needs each musician to understand their role, estate plans resonate most when everyone involved hears the same tune, contributes their part, and works in harmony to carry forward a shared vision.

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Sources:

1. Fidelity Center for Family Engagement. ' The Generations Project ^SM : Findings from the Later-in-Life Conversations Study .' 2024.

2. Fidelity Investments. “ Americans Ready to Break the Cycle of Avoiding Family Discussions on Finances ,” 19 Nov. 2024.

Other Resources:

1. Barron's. “ Northern Trust Reveals ‘Secrets of Enterprising Families’ ,” by Abby Schultz. 9 April 2024.

2. Investopedia. “ How to Have 'The Talk' With Your Parents: The Financial Discussion You Can't Avoid Forever ,' by Lucy Lazarony. 7 July 2025.

3. Kiplinger. “ Six Ways to Make Talking With Family About Estate Planning Easier ,” by Jacob Wolinsky. 9 Apr. 2025.

How does HP Inc. ensure that the pension plan benefits will remain stable and secure for employees in the future, and what measures are being implemented to mitigate financial volatility associated with these benefits? Employees of HP Inc. should be particularly aware of how the transition of their pension payments to Prudential will affect their financial security and what protections are in place to ensure that these payments are maintained without disruption.

HP Inc. ensures pension plan benefits remain stable and secure by transferring the payment obligations to Prudential, a highly-rated insurance company selected through a careful review by an Independent Fiduciary. This move is aimed at reducing financial volatility associated with HP's pension obligations while maintaining the same benefit amount for retirees. Prudential's established financial stability provides additional security to employees(HP Inc_November 1 2021_…).

What specific details can HP Inc. employees expect to learn in the Welcome Kit from Prudential, and how will these details help them understand their new payment system? HP Inc. pension participants will need to familiarize themselves with the information outlined in the Welcome Kit to make informed decisions regarding their pension benefits going forward.

The Welcome Kit from Prudential will provide HP Inc. employees with instructions to set up an online account, along with details on managing payments, tax withholdings, and other resources. This information will allow employees to familiarize themselves with Prudential’s system and ensure a seamless transition without disruptions(HP Inc_November 1 2021_…).

In what ways does the selection process for Prudential as the insurance provider reflect the commitment of HP Inc. to the well-being of its employees? Understanding the rationale behind this decision will give HP Inc. employees insights into the fiduciary responsibilities and governance processes that protect their retirement benefits.

The selection of Prudential reflects HP Inc.'s commitment to employee well-being, as it involved the Independent Fiduciary conducting an extensive review of insurance providers. Prudential was chosen based on its financial strength and ability to manage pension payments securely, showing HP's focus on protecting retirement benefits(HP Inc_November 1 2021_…).

How will the annuity payments from Prudential differ from the previous pension payments in terms of tax implications and reporting for HP Inc. employees? It is crucial for employees of HP Inc. to comprehend the tax treatment of their new annuity payments to avoid any potential pitfalls in their personal financial planning.

The annuity payments from Prudential will be taxed similarly to the previous pension payments, though employees will receive two separate 1099-R forms for 2021 (one from Fidelity and one from Prudential). For future years, only a single form will be issued. This ensures employees are aware of how to manage tax reporting(HP Inc_November 1 2021_…).

What resources are available to HP Inc. employees seeking assistance regarding their pension benefits, and how can they effectively utilize these resources to address their concerns? Knowing how to access support and guidance will empower HP Inc. employees to manage their retirement benefits proactively.

HP Inc. employees seeking assistance can access live customer support through Fidelity or contact Prudential directly after the transition. Additionally, the Welcome Kit will include important contact information for managing their benefits, making it easy for employees to address concerns(HP Inc_November 1 2021_…).

How can HP Inc. employees verify the financial health and stability of Prudential, and why is this factor important in the context of their pension benefits? Employees must ask how Prudential's financial standing influences their view of long-term pension security and what metrics or ratings they should consider.

HP Inc. employees can verify Prudential’s financial health by reviewing Prudential's annual financial reports, which are publicly available. Prudential’s strong financial ratings were a key factor in its selection, assuring employees of long-term pension security(HP Inc_November 1 2021_…).

What steps should HP Inc. employees take to update their personal information, such as banking details and tax withholding preferences, following the transition to Prudential? Understanding these processes will ensure a smooth continuation of benefits for HP Inc. employees as they adapt to the new system.

Employees do not need to re-submit their personal information to Prudential, as HP will securely transfer all necessary data, including banking and tax withholding preferences. This ensures the continuation of pension payments without the need for employee intervention(HP Inc_November 1 2021_…).

How does HP Inc. plan to address potential changes in the financial landscape that may affect pension benefits, and what role does the insurance contract with Prudential play in this context? HP Inc. employees should be informed about the company's strategic outlook and how it aims to safeguard pension assets against economic uncertainties.

HP Inc. plans to address potential financial changes through its contract with Prudential, which guarantees pension payments will remain the same. Prudential manages these risks as part of its core business, providing added security against economic volatility(HP Inc_November 1 2021_…).

In what circumstances might HP Inc. employees see changes in their net pension payments following the transition to Prudential, despite assurances that payment amounts will remain unchanged? This understanding will help employees manage their expectations regarding future payments and any adjustments they may need to make.

Employees might see changes in their net pension payments due to tax adjustments or changes in withholding instructions, but the gross payment amount will remain unchanged. Any garnishments or other deductions will continue as before, ensuring consistency in payment structure(HP Inc_November 1 2021_…).

How can HP Inc. employees contact the company directly to learn more about the pension transition process, and what channels are available for them to have their questions addressed? Clear communication lines are essential for HP Inc. employees to ensure they receive timely and relevant information regarding their pension situations.

HP Inc. employees can contact the company through the Fidelity support line or directly through Prudential for any questions about the pension transition. The Welcome Kit and other resources will provide contact details, ensuring employees have access to timely support(HP Inc_November 1 2021_…).