Money and death can be a taboo topic of discussion in families, but it is important for family members to be able to communicate these crucial estate planning issues. According to a survey that was conducted last year by T. Rowe Price about 72 percent of parents are reluctant to talk about to their children about financial matters. Avoiding discussions about these issues is not in anyone’s interest and it is important to develop a plan for having a conversation about estate planning and inheritance. This article provides important advice about how to carefully proceed with these delicate conversations about money. Kicking the can down the road is only going to lead to costly probate battles and bitter family feelings. It is a good idea to meet with an estate planner who has experience with helping families work through these communication issues.
See Elizabeth O’Brien, How to tell your kids how much money you’re leaving them, Market Watch, January 29, 2016.
