Reply to What is the right age to begin to talk to your parents about protecting their finances?

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[quote=Anonymous]always best when everyone is still competent. if you don't know how to broach the conversation, you can start by asking for help: "larlo and i realized we need to plan for the future and get our paperwork in order-- our finance guy says we need our wills updated, and make trusts, and do advanced directives and healthcare PoA as well as durable power of attorney. it all seems so overwhelming. he says he can recommend some family lawyers for planning, but i wanted to ask you what YOU did. do you have a lawyer you work with?"

if you think things might be complex, or that parents might need medicaid at some point in the future, then you'll want to talk specifically to lawyers that specialize in medicaid/eldercare planning, but first things first. start the conversation. dpoas can be constructed to name successors, so maybe they just want to be each others poa for now, that is a good start.

once talking about finance, it can be good to talk about budgets and autopay and any critical recurring payments. here you could frame it again as asking for help. "i was using this application called Mint for my budgeting, and they are shutting down! do you use anything for budgets, planning out recurring expenses? no? oh. maybe we could research together?"

good luck.
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