${site.data.firmName}${SEMFirmNameAlt}
Local
310-324-9403
Toll-Free
866-402-1805
<#if page.ID == "About"> In This Section
<#else> View Our Practice Areas

Talking To Your Adult Children About Your Finances

6a017d3e6b2617970c019b00b60043970b.jpg

Talking to your adult kids about your finances and how you plan to divvy up your money after your death may be one of the most important conversations you'll ever have. It gives you the chance to tell the kids how you want your estate to be handled. It lets your kids know whether they need to worry about supporting you in your old age or whether they'll get help paying for their children's college education. And it sets them straight as to whether they will get a windfall, a topic that can be a huge disconnect between parents and children.

So, you have committed your estate plan to writing. It has been signed, witnessed and notarized. Done? Not so fast. Talking now with your kids and family is the best way to give life to your estate plans.

The heavy legal work of estate planning is done in ink and paper, often also in a banker's ledger. However, the heart and even much of the practical work is done in conversation with your loved ones. So how do you start and go about this talk?

This is a difficult subject, but fortunately it is one for which there is much advice. Consider a recent Kiplinger article titled "The Family Money Talk You Must Have."

That article gives both pithy advice and stories to back it up. The key lesson is to stop avoiding the topic, but to engage it head on. There are many reasons to avoid the family wealth and estate planning topic. Every family has its own dynamics.

Maybe you do not know how to say there is an "estate." After all, you may have kept your financial condition close to the vest over the years. All the same, what is unknown cannot be planned, either by you (the one establishing the plan) or by the heirs who will receive it.

Well, how do you get there and how does the rest of the conversation go? Good questions to ponder. Remember, the answers depend almost entirely on you, your family, and the assets to discuss.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard Street
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map