Having the Financial Talk With Your Parents 

Of all of the awkward conversations you can have with your parents, talking about their eventual passing may be the most difficult, but it’s also the most important. 

You want to know where their assets are, what their wishes are for them, how to access them in their absence, and so much more.

Financial Talk With Your Parents

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If possible, speak with your parents while they are still healthy, to let them know you can assist with their finances as they grow older. 

Don’t Wait Until it’s Too Late

Assuming they are ok with number one, try to get a list of their financial holdings (Bank account, brokerage, retirement, and real estate holdings).

Take Inventory of Assets and Ongoing Liabilities

It would be helpful if your parents would allow you to be a co-signer on their bank account and safety deposit box. 

Become a Co-Signer or Trusted Contact

Determine the location for their important financial documents including wills, advanced directions (DNR), power of attorney, life insurance, burial policies, cemetery information, safety deposit keys, and cash ‘hidden’ in the house.

Locate Key Documents and Information

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