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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]My father got cancer at 60 and died 6 months later. It was certainly unexpected and I didn't know anything about my parents financial situation. I got home a week before he died and had to have a lawyer and notary come to the house to give me power of attorney and write a will so that we could get things handled while I still had him here to ask basic questions. I now have power of attorney of my mother and receive copies of any financial information. I also talk to her financial advisor regularly. She is fortunately the thrifty one out of my parents so it should all work out fine, but she isn't tech savvy and won't look online to check in on accounts and bills. I keep an eye on it once a week or so just to be sure things are done. She isn't aware of how often I look, and I think it's important for her to feel like she is in control. At the same time, it is important that if something happens I have everything I need to take care of her situation.[/quote]
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