Not All Parents Choose To Leave Money To Their Children
By Lynne Adkins
PHILADELPHIA (CBS) — Most people try to leave money in their will for their children, but not everyone does and that can make for an interesting conversation.
There are reasons people decide not to leave cash to the adult kids. Parents are living longer and more actively, health care costs are skyrocketing and there’s that great charity that could do a lot of good with the money.
Alan Shapire, principal of Convergent Financial Advisors of Media says it’s best to be honest and clear with children.
“It shouldn’t be a surprise it should be we want to have this conversation with you, we want to get everyone together, especially if there’s more than one child, we want to get everyone together and talk about our financial decisions and our end of life decisions, so everyone knows what we want and what to expect.”
He says unless you love drama, a holiday dinner may not be the best setting.