Starting Difficult Conversations About Money with Your Parents

Bringing up money with your parents can feel uncomfortable—but at The Lansky Law Firm, we know that starting this conversation early is one of the most caring steps you can take for your family.

Clear, open communication today can prevent confusion, reduce emotional stress, and ensure your parents’ wishes are carried out with confidence.

Why These Conversations Matter

The financial choices your parents make today affect not only their own well-being but also the security of future generations. Without planning:

• A sudden nursing home stay could quickly deplete savings.

• Unclear inheritance instructions might spark disputes among siblings.

• Outdated or missing documents could unintentionally leave beneficiaries unprotected.

Estate planning provides the framework to safeguard both independence and legacy.

Balancing Today’s Enjoyment With Tomorrow’s Protection

Your parents worked hard for what they have, and they deserve to enjoy it—whether that means traveling, pursuing hobbies, or simply finding peace of mind.

But without thoughtful planning, today’s spending could unintentionally put tomorrow at risk. With the right legal tools—such as trusts, powers of attorney, and advance directives—families can prepare for long-term care or unexpected medical expenses while still allowing parents to enjoy the lifestyle they’ve earned.

What Families Should Clarify

Families don’t need to know every account balance, but it is important to understand the essentials:

• Who has legal authority to make financial or medical decisions if a parent cannot.

• How long-term care would be financed, and whether Medicaid planning is part of the strategy.

• Whether wills, trusts, and beneficiary designations are current.

• How parents want their legacy to be carried forward across generations.

The Best Time to Talk is Now

The best time to start these discussions is before a crisis. If a parent becomes suddenly ill or incapacitated, options shrink and emotions run high. Having the right documents in place ensures decisions are guided by your parents’ wishes—not last-minute necessity.

The Real Goal: Peace of Mind

Conversations about money may feel awkward, but they are truly an act of love. By encouraging your parents to create or update their estate plan, you can help strike the right balance: ensuring they enjoy the life they’ve built while protecting their legacy for the future.

Peace of Mind through Preparation. 

Plan for the future and protect your legacy with The Lansky Law Firm. 

Visit Us: 6800 Poplar Ave #225, Memphis, TN 38138 

Call Us: (901) 767-7006 

Learn More: www.lanskylawfirm.com