It is hard to initiate the talk to your parents regarding
their finances particularly when they are not open in sharing their financial
information. But there’s a big chance that they might need your help later on
in accessing some of their financial information due to their old age and poor
health condition. Before this happens, it’s best to initiate the talk and find
out about your parents’ financial situation. It’s important to find out if your
parents’ have Social Security benefits, long term care insurance, life
insurance and other insurance products. It’s also important to know where they
keep their documents and the complete list of important documents they have.
For your guide, here are the three financial questions to ask your parents:
- What's your financial situation?
- How prepared are you to cover medical expenses?
- Where do you keep your important documents?
No comments:
Post a Comment