In many FAMILIES, MONEY still is not a typical dinner table DISCUSSION, but we think it should be. Surprisingly, this is especially true when it comes to affluent PARENTS. And, we HOPE to CHANGE it because one of the most IMPORTANT things you can do is TALK to your KIDS (and your parents) about MONEY.
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Do your PARENTS have an estate PLAN? Is it up to DATE? No matter how RICH or POOR you or your parents are, especially in the wake of the COVID-19 pandemic, YOU need to be ASKING these and several other QUESTIONS. When your parents become INCAPACITATED or DIE, their AFFAIRS will become your RESPONSIBILITY , and it will be IMPOSSIBLE to ASK them to CLARIFY anything. So, if you do not know whether or not they have estate planning in place that will help you best support them, read on.
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