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Reply to "s/o How much do you know about your parents/ILs finances?"
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[quote=Anonymous]I think adult children should know if their parents have enough in savings/investments to maintain their current standard of living until they die, with some basic assumptions about our economy and their health. If there isn't enough money saved (and coming in from SS and pensions), some very serious conversations are in order. Fortunately, my parents are fine and will most likely leave significant sums to their children and grandchildren--or charities of their choice. I am extremely grateful for that. My FIL died before he bankrupted my MIL. MIL doesn't have a lot of savings, but she has a huge pension and really good medical benefits, including long-term care insurance. She might not have earned as much as her husband, but she ended up in a much better financial position. Now we just have to worry about SIL soaking up all MIL money, but that's another tale for another time.[/quote]
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