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[quote=Anonymous][quote=Anonymous]One thing that is consistent with my boomer relatives who weren’t recently working or running a business is that they grossly over value their assets and grossly underestimate their spending. Several are convinced that they are sitting on goldmines of stuff when in reality their children will have to spend money to haul it away. Several own properties but grossly over estimate what it’s worth. They don’t understand that their homes are tear downs and the value is in the land. [/quote]
I really think that people in the 50 to 75 year age group are able to manage their own lives. If there is an exception to this, it is due to a specific problem such as early onset dementia, or even possibly mental illness, and this is not common. I don't think this age group needs help from their kids to make financial decisions for them, but the younger generation can ask about their general situation is in the case they will need to know as next of kin. They can also ask that estate planning be more streamlined, such as having things payable upon death or setting up a trust. 
Let's get a grip on reality. Offspring may not like the choices, but their parents are certainly capable of making them.  [/quote]

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