As parents, our clients want the best for their children, perhaps especially when those children become adults. Learning good financial habits can be central to a successful and independent adulthood. Yet, most young adults feel they’re thrown into the world without any education on how best to handle their finances. Remembering their own money mistakes and successes can help put your clients in the best position to pass on advice that will help their young adults learn to manage their money successfully. I suggest five steps to help the conversation go smoothly and ensure your clients touch on all the right topics.
Source: Five Tips for Talking About Money With Adult Children
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David R. Duringer, JD, LL.M, is a concealed firearm instructor and tax lawyer specializing in business and estate planning; licensed to practice law in the states of California and Washington. He is managing shareholder at Protective Law Corporation, serving Southern California from its Laguna Hills (Orange County) headquarters and satellite offices in San Diego County (Coronado and Carlsbad).
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