Think about it: Has your family discussed, say, how it will cover the estimated $245,0000 the average couple can expect to spend on healthcare throughout their golden years?
Probably not. But as, Sweeney notes, “At some point, every family will face issues relating to aging — perhaps even dementia — and there are real emotional and financial consequences when family conversations either don’t happen or lack sufficient depth.”
If peace of mind is important to you — and at least 93 percent of both parents and children reported attaining it after having had those all-important talks — online tools can help get you there.
Fidelity, for example, has a variety of resources available at fidelity.com/families that, among other things, list the documents you’ll need should a key financial decision-maker die.
After all, “Cool Hand Luke” moments are best saved for the movies.
This article was originally published in newusa.com
