Suzanne Woolley of Bloomberg News has made available for download her article, “How to Keep Money From Destroying Your Family,” which discusses ways that financial issues can divide families, and ways to avoid them. The summary of the article is as follows:
There are some clear pitfalls to avoid when mixing money and family.
Communication is particularly important now during the pandemic, with so many seniors isolated at home and more vulnerable to financial exploitation. It can be awkward for parents and adult children to talk about estate planning, but it’s better to deal with tensions before they drive a family apart.
To see the full article, click here: “How to Keep Money From Destroying Your Family”
Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.