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Personal Finance (Not Investing) • Talking with my Dad about Finances

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My parents are in their mid 70's and my dad has always taken care of of their financials since they got married 50 years ago. He had a health scare (minor stroke) a few years ago and has recovered fully but it was a wake up call to me and I'd like to talk to him about what would happen if he were to pass away or be incapacitated. She will probably not be able to manage things herself and I want to be able to help her.

He has resisted talking with my mom about it, so I feel its the responsible thing for me to find out if there is a plan and if not to help put one in place. However, we are a good midwestern family and talking about big stuff like that is not our forte.

Does anyone have some good advice on how to bring this up? My thought was to try and not make a big deal about it, but that's hard when we are talking about death.

Hoping others have done this before or are in his position and what might work with them.

Thanks!
Ask for Dad's advice. Make it your concern about your spouse and make him the expert.

"Dad, I was thinking about your stroke, and I want to make sure my spouse will be OK if I have a health issue and I can't manage our finances for weeks or months. How did you set things up for mom? I don't know where to start. I could use some advice."

Statistics: Posted by EHEngineer — Wed Feb 14, 2024 1:33 pm — Replies 11 — Views 819



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