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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]I think it depends on how much you trust them. My parents have earned my trust by being financially responsible all their lives. When they say they have made appropriate plans, I believe them. Being in the dark can be very bad if there is debt that you don't know about. Or if they are planning to live with you or be supported by you, and haven't told you of that expectation. You could start the conversation by saying that you are making your own arrangements-- long-term care, medical power of attorney, etc., and ask them for advice in a general way. That may cause them to reveal some of what they have in mind.[/quote]
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