“MOM AND DAD, LETS TALK ABOUT REAL ESTATE” –New York Times Article about how to discuss elder law issues with family

July 3, 2013 - Posted by: admin - In category:

taxes - No Responses

Talking to parents about real estate can be a launching pad to talking about very serious and sensitive issues involving the family home and proper planning for the parents.

“How do children nudge often-reluctant parents toward making sound and fiscally smart decisions about the future of the family home? How can assets be protected while keeping a roof over the parents’ head? What are the main issues that need to be kept in mind as planning goes forward? How do children, or in their absence, other close relatives, begin the difficult and sometimes painful conversations needed to resolve these issues? In the case of apartments that have sharply escalated in value, how do you guide parents unused to dealing with large sums of money?”

Here is a New York Times article on the topic of how children can discuss estate planning with parents, including the vital need for parents to get their affairs in order. Do you need to have a similar conversation with your parent or grandparent?

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