How to Talk to Your Parents About Their Estate Plans Without It Being Awkward

Talking about money can be a recipe for tension and miscommunication among family members.

Bring in retirement and estate planningand your aging parentsand youve concocted a conversation no one really wants to have.

Ivepreviously coveredhow aging parents can broach this subject with their adult children, but what about the reverse?

How can adult children talk to their parents about their retirement, estate, and other long-term financial plans?

Discussing retirement plans with your aging parents can be difficult, but it’s a necessary conversation to have.

As your parents get older, they will need support and assistance in planning out their golden years.

Avoid bringing up the topic of retirement during big family gatherings or holidays.

Instead, set aside a separate time just for this discussion.

Jot down topics like living arrangements, finances, healthcare, estate planning, social activities, etc.

This will help the discussion stay focused and productive.

I want to honor your wishes.

But I cant do that if I dontknowyour wishes.

The key is framing the conversation around their wants and needs, not any selfish motive on your part.

Go into the conversation with an open mind.

Let your parents share their thoughts and wishes before imposing your own opinions.

Active listening is key here.

Avoid dismissing or arguing with their plans right away.

Discuss their goals

Ask what your parents envision for their retirement years.

Do they have dreams of traveling or spending time with grandchildren?

Get a sense of how they want to spend their time and what brings them joy.

This will provide insight into the jot down of living and financial arrangements that suit them best.

Your role is to kindly share potential issues, not dictate what they should do.

Aging parents may need a little push to address things like declining health, isolation, or financial problems.

To break the ice, Mitchell offers another tip: Talk about your own family planning first.

Uncomfortable, but necessaryand that youre glad you did.

Provide resources without insisting they take your advice.

Guide them compassionately toward wise choices.

Mitchell advises that this will be more than one conversation.

Schedule regular check-ins to continue the retirement conversation.

Chat about any updates to their plans or needs.

Make yourself available as a resource and supportive advocate.

Keep communication open as their needs and desires evolve.

For more tips on all kinds of estate-planning topics, check outTrust & Wills resources here.