How to Talk to Your Depression-Era Parents About Money

After writing an article about stepping in for an elderly parent with dementia, which I blogged about here, the New York Times writer compiled readers’ comments and tips regarding how to talk with depression-era parents about money. Their suggestions are below:

• Show and Tell. By talking about your own estate planning issues, your parents will see it as you asking for advice rather than you prying into their lives.
• Parental Duty. Appeal to their duties as a parent, showing that you are concerned about yourself rather than your parents.
• Bring in a Pro. Some parents may feel more comfortable discussing money in front of a disinterested third party, like an accountant, financial planner, or lawyer.
• Timing. Make sure to pick a good time and place to bring up the discussion with your parents.

See Tara Siegel Bernard, Talking with Depression-Era Parents About Money, N.Y. Times, Nov. 9, 2010.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.