My parents are getting older. How do talk to them about their affairs?
It can be very tough because death is not something anybody likes to talk about. Unfortunately, should they become incapacitated and need help or should they pass away, if a plan is not put in place, then it is going to be way more expensive and way more time-consuming.
You need to communicate that this is going to be uncomfortable but what’s going to be way more uncomfortable later is going to court and having the family business publicly known to everybody. If there is no planning, the longer that process goes the more chances for people to fight. You are a little uncomfortable now to avoid a lot of discomfort later.
