Instead of debating about politics or sports whenever they get together, what if families spent some time having candid discussions about their finances and plans for the future?
We know money is a hard topic for many families to broach. For the older generation, it can bring up the issue of aging and might signal the loss of independence. Younger family members may also have difficulty accepting that their parents may need their help and worry that they’re not up to the task.
Whatever the reason, know this: without a plan for finances, a family could run the risk of giving up control of health care and inheritance.