Marc Roland, CPA, CFP, Managing Partner of Dean Russell Roland was recently quoted in the 2015 January/February AARP Bulletin. Jane Bryant Quinn, personal finance expert and author of Making the Most of Your Money NOW, in her article, Kids and Your Money, discusses the importance of having “the talk” about your money with your kids. It really is about setting expectations so your family knows what to expect in regards to your wishes.
“Time and time again, we have heirs that don’t know anything about their parents situations until after they are gone. It leaves so much room for interpretation that can lead to some very awkward situations. If it makes sense for a specific family, we like everyone to know what is going on. This doesn’t necessarily mean dollar amounts, but really wishes, which makes for a much better scenario.”
To read the article in its entirety – Kids and Your Money