Alvin Carlos, a financial planner in Arlington, Va., said only about 10 percent of his millennial clients had talked to their parents about estate planning. “I think a majority of our clients think their parents are in a decent financial situation, but they don’t know that for sure.” (Source: The New York Times)
Remember, there is a difference between financial privacy and financial disclosure. Respecting a parent’s financial privacy is important, and respecting an adult child’s need for financial disclosure to prepare for financial eventualities is also important.
Consultation with a #trustsandestates attorney can create space for a transparent and productive discussion on these matters.
Start a dialogue about your (or your parents) estate plan today: www.sylvierichardsesq.com/estate-planning