If you are heading out forvacation with your elderly loves ones, you may picture some relaxing time bythe pool as opposed to a deep conversation about estate planning andfinances. But when is a good time tobring up those touchy topics? Having â€œthe talkâ€ while you are unwinding fromthe daily grind can be a good way to have an honest moment about where yourfamily is with their estate plans.
So, how do you get theconversation going? How do you initiate â€œthe talkâ€?
Actually, every family andfamily dynamic is different. It really is more of an art than a science. Tworecent sources of guidance come to us from TheWall Street Journal in an article titled â€œHave 'The Talk' With Mom and Dad About TheirFinancesâ€, and from MarketWatchin an article titled â€œEstate planning at the beach house.â€
Both articles stress the needfor respecting the dignity of aging parents and going slowly. In addition,talking about oneâ€™s own morbidity and mortality is not on anyoneâ€™s â€œtop tentopicsâ€ for casual conversation.
It is difficult enough aging,let alone realizing that your own children are â€œparentingâ€ you. Nevertheless,one of the best and least threatening conversation â€œstartersâ€ is to share withyour parents what you have done in your own estate planning and why. Betransparent with your parents.
One conversation is often notenough; you have to keep the talk moving and ensure that everyone is on thesame page and plans have been made.