
Nightingale on Forbes.com: How to talk to aging parents about health & wealth
Don’t wait to talk to your aging parents about their financial wellbeing. This is one of the best pieces of advice I can offer, as both a financial adviser and adult child who’s “been there.” In the world of financial planning, it’s called “30/60”: If you are in your 30s, or your parents are in their 60s, you should have this conversation. That’s because the time to have “the talk” is well before any health-related emergency happens. If your parents don’t already have a durable power of attorney, health care proxy, or other crucial legal documents in place, you could face a complex legal process to ensure their wishes are granted in the event of something like an Alzheimer’s diagnosis.