There are few things more daunting than having to talk with your parents about their finances. And if you’re the parent with adult children, we imagine the conversation may be just as awkward for you. Although this blog post is written for the adult children, we recommend you continue reading nonetheless.
Talking about money is awkward enough, but broaching the subject of stepping in to manage your parents’ money adds a whole new layer of complexity to the conversation. If our clients over these 20 years are any indication, it is very likely, however, that your parents will eventually need your support and begin to lose the capacity to manage their financial affairs effectively.