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Getting Personal: Money and your parents
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On tap for this week: A soon-to-be certified financial planner is unsure how to talk to her parents about their money and another listener -- who just fixed a big drain on her mother's finances -- wants to know how to prevent financial disasters from happening her mom again. We also check in with a previous caller who wanted to know whether he should take a six-month trip around the world with his wife.
Plus economics editor Chris Farrell and Marketplace Money host Tess Vigeland both share what they are thankful for during this season of giving.
Tess,
Excellent show this morning (Nov. 27). On the first caller (aspiring financial advisor), I wondered if you considered asking if she has siblings, because taking control of a parent's financial affairs can produce certain issues. Perhaps a topic for a future show. Mistakes parents make in setting up their estate: family trusts, vacation property disposition, family business share owning, the house for Susie, the piano for Fred, etc. It all goes well until it doesn't. As my wife and I went through problems with our sibling cohorts, we found that many of our contemporaries (baby boomers) had similar, amusing and poignant stories of their own.
