There’s a good chance that many adult children will have to get involved with their parents’ financial lives as they age. Yet, an overwhelming majority of adult children – 73% – have not had detailed conversations with their parents about their finances, according to a survey by GOBankingRates. One of the primary reasons why survey respondents said they haven’t had “the talk” yet with their parents is because they don’t know how to have the discussion.
Similar Posts
Social Security Benefits Increase and Estate Planning
Have you noticed there is a Social Security Benefits increase this year? This is due to a cost of living adjustment (COLA) they are implementing for just about 65 million Social Security beneficiaries in January 2023. If you are receiving benefits you would have been notified of this increase in December of 2022. Why is…
Summer Travel Plans and Estate Planning
Summer vacation is just about here, so that means summer travel plans are coming up. What does that mean for your estate planning? It might be difficult to think about, but before you take off on that summer vacation it’s important to make sure your estate plans are in tact and are ready to do…

Navigating Probate Without an Estate Plan in Florida
Losing a loved one is never easy, and the legal process that follows can make an already difficult situation even more challenging. In Florida, when someone passes away without an estate plan, their assets typically go through a court-supervised process called probate. Probate is designed to ensure the deceased person’s debts are settled and their…
Essentials of Estate Planning
There are some essentials of estate planning when it comes to protecting yourself, and your family members. If your affairs aren’t in order, not only will your loved ones bear the burden, but they could possibly bear a financial burden, and potentially argue with other family members during their most difficult times. These are the…
33 States with No Estate Taxes or Inheritance Taxes
The Tax Cuts and Jobs Act raised the federal estate tax exemption considerably. Before the tax reform law, it was $5.49 million per person for 2017. It’s up to $11.7 million for 2021 ($23.4 million for a married couple). So, now, even fewer taxpayers have to worry about federal estate taxes when they die. However,…
5 Ways to Mitigate Potential Estate Tax Increases
We don’t want to think about our loved ones passing away. We also don’t know what laws will be in place when that time comes. This makes it important to protect your estate while you can and mitigate estate tax increases now. There are several ways this can happen. Having a knowledgeable estate planning attorney…