The conversation with the children should occur, when the children are ready to receive the news without it changing their own goals in life.
When that time should be, will differ for every family. Most often, however, it will be when the children have already established their own careers and families.
The conversation does not need to happen all at once. Children can be told incrementally, as they are ready to receive more and more information.
An estate planning attorney can guide you in creating an estate plan that meets your unique circumstances.
