Good Morning America had a great segment this morning discussing tips for talking with your parents about planning for their financial and legal future. Financial contributor, Mellody Hobson, had some suggestions for talking points for that important conversation. The full video is available here: Talking to Aging Parents About Finances – ABC New.
The highlights were:
- Broach the topic by discussing your own plans for the future;
- Organize their legal and financial documents;
- Suggest direct deposit and bill pay for your parents;
- Research meal, transportation and in-home medical services;
- Discuss long term care planning; and,
- Encourage estate planning and the necessity of drafting a Will.
For more information about any of topics discussed in the video please contact our office to schedule a consultation.