Not talking to your adult children about their inheritance comes at a cost. Do what you can to manage expectations for adult children as they forge their financial plans. Knowing their general inheritance situation can change their decision-making process and lead to better outcomes.

With multiple generations getting together for holiday meals, gift exchanges and quality time, these annual gatherings present an opportunity to broach sensitive but important topics with your aging loved ones.

Many couples in their 30s and 40s are providing for their families and balancing care duties between the needs of children and parents. Managing it all takes preparation, organization, and communication.

Creating a living will ensures your future health care decisions and plans are respected. A living will is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself.

Although every state’s laws and forms vary, most power of attorney forms specify that the agency relationship created by a power of attorney ends upon a person’s death.

If we have learned anything these past few years, it’s that life is fleeting. Amid such uncertain times, many of us have realized what – and who – truly means the most to us.

Powers of attorney can be overridden. However, the “who” and “how” depends on whether the principal is of sound mind.

Many power of attorney forms allow for a variety of options in designating who may act as your agent. Depending on the rules of your state, this can be one person or more than one person.