In retirement, some of the most important financial conversations are not just with your advisor. They are with your family.
In this episode of Retire and Thrive, we break down the family meeting retirees should consider having with their adult children before a crisis forces the conversation.
We discuss what your family should know about your estate plan, where important documents are located, who to contact, and how to choose the right people to handle financial and healthcare decisions. We also explore a difficult question many parents face: Should your adult children actually know how much money you have?
Chapters
00:00 The family meeting retirees should have
01:57 What your adult children need to know
04:12 Passwords and digital accounts
05:53 Choosing a financial power of attorney
07:30 What happens to power of attorney at death
10:11 Healthcare directives and medical wishes
12:38 Should your children know how much money you have?16:42 Choosing who will manage your estate
18:55 Why an estate plan matters
20:11 When should you update your estate plan?
21:00 What does an estate plan cost?
21:44 Final thoughts
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