Lauren Cobello
Lauren Cobello, Cameron Huddleston
How to Talk with your Aging Parents about Money
How to Talk with your Aging Parents about Money
How to Talk with your Aging Parents about Money
Monday 25th April 2022
Learn how to discuss finances with aging parents. Tips from Lauren Greutman and Cameron Huddleston on Hard Money Talks.
Explicit
48 minutes
Informative
Supportive
Empowering
Thought-provoking
Engaging
About this podcast
Author:
Lauren Cobello
Overview:
Categories:
Financial Health in Recovery
Navigating Intimate Relationships
Healing Relationships
Sobriety Toolkit
Mindfulness & Emotional Wellbeing
Links:
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Episodes:
28 (View all)
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Get the buttons here!Talking Money with Aging Parents: A Guide from Hard Money Talks
You either haven't had the conversation because you don't realize it's important, or you realize it's important, but you're afraid to have the conversation because, like you said, Lauren, it's awkward and it's okay to say that to your parents.
Ever felt a knot in your stomach at the thought of discussing finances with your aging parents? You're not alone. In this episode of Hard Money Talks, host Lauren Greutman sits down with Cameron Huddleston to tackle this delicate issue head-on. Cameron shares her personal story of navigating her mother's estate after her father passed away without a will, all while caring for her mother who has Alzheimer's.
It's a tough conversation, but one that's crucial for avoiding future headaches and heartaches. Cameron opens up about the chaos that ensued due to the lack of a will and how it complicated managing her mother's affairs. She stresses the importance of early and transparent discussions about estate planning, including essential legal documents like wills, living wills, and power of attorney. These aren't just pieces of paper; they're lifelines that can make a world of difference when the unexpected happens.
But it's not just about the paperwork. Cameron and Lauren dive into the emotional and psychological hurdles that often accompany these conversations. How do you bring up the topic without sounding like you're prying or being disrespectful? Cameron suggests framing it as a way to honor their wishes and ensure their peace of mind. It's about planning for the future together, not just ticking off a to-do list.
The episode also touches on practical tips for dealing with debt and considering long-term care insurance. These elements can help ease the financial burden on family members and provide better care options for aging parents. Cameron emphasizes that while the conversation might be uncomfortable, it's okay to express your concerns and fears openly. So, if you've been putting off that money talk with your parents, this episode offers a compassionate yet practical guide to get you started.
Tune in to Hard Money Talks for invaluable advice on navigating this challenging but necessary discussion.