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Reply to "How much do you think kids should know about parents' finances (if anything)?"
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[quote=Anonymous]It depends on what your responsibilities are, what your parents are expecting you to do. My dad owns a small construction business and has a lot of health issues, and I eventually sat him down and told him that if he was expecting me to manage the business in an emergency, he needed to give me power of attorney, various contact info, and a card on the business account. Because otherwise his employees don't get paid. He agreed that was the right thing to do. I don't know much about his financial health other than that I trust and believe it is good. But I twisted his arm on the business stuff and I think I was right to do so. I think if you're going to put responsibility on a child to care for parents in any way, then you have to provide the information that allows the child to plan appropriately.[/quote]
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