Talking to your parents about their finances

Most of us would rather have "the sex talk" with our kids than talk to our own parents about their finances. Talking about money can feel awkward, prying, and uncomfortable. But “the money talk” is a conversation every adult needs to have with their parents. And the sooner the better, says Cameron Huddleston. She’s an award-winning journalist with nearly two decades of experience writing about personal finance and author of the book, Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances. Cameron joins us to share advice on how to get the conversation started with your parents, even if they – and your siblings – are reluctant to talk about it. She shares the documents and information you’ll need in order to plan for a future that will keep the headaches and heartaches of estate planning to a minimum. Listen to this episode to learn: -The legal documents that your parents should have in place, including wills, power of attorney, and advance health care directives -Why you need to discuss finances and estate planning early, when your parents are of sound body and mind -How COVID-19 has changed the way we approach this conversation with our parents -Essential information you parents should write down for you – like social security and driver’s license numbers, bank and retirement account information, and more -How to involve siblings and step-siblings in having these conversations, especially if one is being difficult or stubborn -How to talk to your kids about money so that they grow up feeling comfortable having “the money talk” with you someday For more information, visit www.cameronhuddleston.com.