This interview originally aired on In the Moment on SDPB Radio.
Imagine you're suddenly unable to speak for yourself, such as during a medical emergency. It could go one of two ways:
Your adult children are thrown into a complex and emotional situation and suddenly have to execute your financial plans. They try to do their best—but even with the best intentions, they may unravel even the best-laid plans.
Or your adult children already know your plans, your wishes and your financial planner. They've attended financial counseling meetings with you and talked at length about your priorities. Your financial plans are safe in their hands.
Which would you rather have happen? Financial therapist Rick Kahler discusses how to ensure it'll be the second option.
Read Kahler's columns: "Protecting your financial plan from family members with good intentions" and "The biggest risk to a well-designed financial plan in your later years could be your children."
