Conversations with people you love about money concerns can get awkward and tense pretty fast, writes Tobie Stanger in Consumer Reports, offering the following example:
You and your two siblings inherited the lake house where your family spent many cherished summers. But now, arranging who gets July 4th weekend – and whether you, your banker sister, and your struggling artist brother should all pay the same amount for the new roof – makes you behave like nursery schoolers.
Stanger lists 15 of the toughest money talks in descending order, with the toughest being about:
- a spouse who isn’t bringing in enough income
- a parent giving more financial help to one sibling over another
- one sibling asking another for financial help
- spouses disagreeing over big purchases
Of those who’ve had these conversations, Consumer Reports reveals, 29% were uncomfortable telling their parents it’s time for someone to take over the managing of their finances. A 2014 Wells Fargo survey revealed similar results: Americans find discussing personal finances the most difficult to do, with death a close second in terms of awkward topics.
At Geyer Law, we understand the challenges, fears, and family dynamics that often come into play with legal issues. After all, estate planning involves broaching three on Stanger’s list of sensitive topics: finances, death, and family affairs. As advisors, we take an empathetic and compassionate approach, assisting clients, yet still allowing them to address in their own way their particular goals and concerns.
So that the cost of legal services does not serve as a deterrent to having those vital estate planning conversations, the attorneys at Rebecca W. Geyer & Associates, PC make every effort to offer legal guidance at a fixed fee, even, under certain circumstances, entering into payment plan arrangements. That way, concerns may be addressed without the ongoing stress of an increasing legal bill.
Yes, conversations with people you love about death, long term care, elder law and inheritance can certainly get awkward. At the same time, those very conversations represent a gift of great love for both older and younger family generations.