How to Speak to Your Loved One About Finances

00:00 Introduction and background information on Cameron Huddleston. Wrote her book “Mom and Dad We Need To Talk: How to Have Essential Conversations With Your Parents About Their Finances” in 2019. She wrote from her own experiences with her mom as she aged. Also a Family Finance Expert with Getcarefull.com

02:30 Information about Get Carefull

05:33 Financial Education and information on getcareful.com

06:27 Red Flags - scams and aging

09:45 Starting to have the financial conversations early

10:40 Cameron shares her experiences with her mom as she aged.

13:00 Legal Documents families need to protect their parents health wishes and finances.

14:55 How Cameron’s work applies to all caregivers.

17:49 Cameron’s advice on how to have conversations with parents.

21:00 Different strategies to use to ease into conversations.

24:00 What not to expect to do. How to nurture the financial relationship with your parents

26:24  Understanding that your parents are allowed to make mistakes. 

27:25 Power of attorney and banks.

28:35 Protecting your family from scams.

29:50 Offering to help your parents where you see they need help and how to be empathetic.

30:29  Helping with healthcare and speaking with parents about their quality of life. Getting to know what they want their later years to look like. Get them to help make that plan while they can help.

33:20  Couples and protections/access to each other's accounts, medical decisions, etc

35:43 Having spousal protections in place.

39:13 Setting up beneficiaries and the importance of wills.

41:32 The use of storytelling to help find ways to have conversations with your loved ones about difficult subjects. 

45:06 Importance of Cameron’s work in a caregiver's life. 

46:13 Cameron’s advice if you are just realizing you need to start having these conversations with your parents. Woking with your siblings to put together a plan.

48:03 Easing into the conversations.

50:32 Having real conversations with our parents. Tips and solutions on how to prepare to speak with them.

52:15 Close

Links mentioned in the podcast

Cameron’s book “Mom and Dad We Need To Talk: How to Have Essential Conversations With Your Parents About Their Finances” 

Get Careful

Download Get Carefull’s Financial Caregiving Roadmap