My parents are both gone now, but about 10 years before my dad died, when I was there for a visit, he introduced me to his "Death Book."

Yep. That's what he called it. It was a three-ring binder with info on everything in it: Where his will was, where his bank accounts were, the safe deposit box and more. He even had a handwritten obituary to send to the local paper.

While "Death Book" is a horrible title, it's a great idea. It's really helpful for adult kids to understand what's happening with their parent's money and estate planning.

But there's the problem. You know you need to talk to them about their finances, but you're not sure where to begin — or how to approach the conversation with compassion. This week we're going to tackle this thorny subject.

As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman. We've also got a special guest, award-winning journalist Cameron Huddleston. Cameron is also the author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances.

 Check out the following resources for more information on estate planning:

• We've got a podcast for that — check out our episode on Estate Planning Tips and Tricks
• Middle-Aged Americans Aren't Planning Their Estates — Here's How to Fix That
• If your parents haven't figured out a plan, they're not alone: More Than One-Third of Wealthy Americans Lack Estate Plans
• 8 Documents That Are Essential for Planning Your Estate
• Don't Make These 12 Financial Planning Blunders
• 7 Things You Should Not Include In Your Will

 

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