When it's time for children to help their aging parents
"Some parents simply aren’t comfortable sharing financial matters with their children, and a strategy may be needed to begin the difficult conversation"
The day may come when you realize that your parents are getting old. They may be losing their ability to stay on top of routine money matters, or they may lack the knowledge to handle some of the bigger issues of later years, such as tax and estate planning. This can be very difficult to witness. But now it’s your turn to gather your strength and help the people who raised you.
If you’re lucky, your parents are willing to accept your help and are open to discussing their financial situation with you. But for many people, it’s not so easy. Some parents simply aren’t comfortable sharing financial matters with their children, and a strategy may be needed to begin the difficult conversation.
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