John Wiley & Sons Mom and Dad, We Need to Talk Cover Learn to start open, productive talks about money with your parents as they age As your parents age.. Product #: 978-1-119-53836-3 Regular price: $25.14 $25.14 In Stock

Mom and Dad, We Need to Talk

How to Have Essential Conversations with Your Parents About Their Finances

Huddleston, Cameron

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1. Edition August 2019
256 Pages, Hardcover
Wiley & Sons Ltd

ISBN: 978-1-119-53836-3
John Wiley & Sons

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Learn to start open, productive talks about money with your parents as they age

As your parents age, you may find that you want or need to broach the often-difficult subject of finances. In Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances, you'll learn the best ways to approach this issue, along with a wealth of financial and legal information that will help you help your parents into and through their golden years.

Sometimes parents are reluctant to address money matters with their adult children, and topics such as long-term care, retirement savings (or lack thereof), and end-of-life planning can be particularly touchy. In this book, you'll hear from others in your position who have successfully had "the talk" with their parents, and you'll read about a variety of conversation strategies that can make talking finances more comfortable and more productive.
* Learn conversation starters and strategies to open the lines of communication about your parents' finances
* Discover the essential financial and legal information you should gather from your parents to be prepared for the future
* Gain insight from others' stories of successfully talking money with aging parents
* Gather the courage, hope, and motivation you need to broach difficult subjects such as care facilities and end-of-life plans

For children of Baby Boomers and others looking to assist aging parents with their finances, Mom and Dad, We Need to Talk is a welcome and comforting read. Although talking money with your parents can be hard, you aren't alone, and this book will guide you through the process of having fruitful financial conversations that lead to meaningful action.

Introduction: Why the Money Talk Is Essential ix

Chapter 1 Get Over Your Fear of Having "The Talk" 1

Chapter 2 Don't Wait 13

Chapter 3 Reasons Your Parents Might Be Reluctant to Talk 23

Chapter 4 What Happens If You Don't Have the Conversation 33

Chapter 5 Start by Talking to Your Siblings 41

Chapter 6 What Not to Say 51

Chapter 7 Conversation Starters 59

Chapter 8 A Step-by-Step Approach to a Successful Conversation 73

Chapter 9 What You Need to Know 83

Chapter 10 Talking to Your Parents About Estate Planning Documents 97

Chapter 11 Talking to Your Parents About Scammers 113

Chapter 12 Talking to Your Parents About Long-Term Care 133

Chapter 13 Talking to Your Parents About When It's Time to Move 157

Chapter 14 If at First You Don't Succeed . . . 173

Chapter 15 Getting Through to Reluctant Parents: Success Stories 181

Chapter 16 What to Do If Your Parents Won't Talk 191

Chapter 17 Pay It Forward: Start Talking to Your Kids 201

A Final Note 215

Additional Resources 217

About the Author 225

Acknowledgments 227

Index 229
CAMERON HUDDLESTON is an award-winning journalist with more than 17 years of experience writing about personal finance. Her work has appeared in Kiplinger's Personal Finance, Business Insider, Chicago Tribune, Fortune, Huffington Post, Money, MSN, USA Today, and many more print and online publications. She is currently the Life + Money columnist for GOBankingRates.