How to Have “The Talk” With Your Parents: The Financial Discussion You Can’t Avoid Forever
By Lucy Lazarony
Published July 07, 2025
It may seem difficult to talk about finances with your parents, but doing so now could save you a lot of grief and money in the long run. You may need to step in and help one day, and you don’t want to wait until after an accident or a medical crisis. Having the discussion now ensures that you can honor their wishes later on.
“Conversations with parents about their finances need to come from a place of love and respect,” said Cameron Huddleston, author of “Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances.”
“You want to make it clear that you are looking out for their best interests by asking for information that will be useful if there ever is an emergency that forces you to get involved with their finances,” Huddleston adds.
Key Takeaways
- Having a talk with your parents about their finances will help you to understand the best ways to assist with their finances if an emergency strikes.
- Ask about financial accounts and sources of income, how they pay their bills, and where they store their passwords.
- Ask about your parents’ estate plans. Do they have a will in place? Have they named a power of attorney or a health care power of attorney?