I am worried about my parents and their finances. I am looking for a list of questions that I should ask them to get a full understanding of what they have. For example,do you have a will? Where is it? Bank accounts? Etc. I just want to be ready for the inevitable and want to be able to step in and help out if one or both of them die.
2007-04-06 18:17:47 · 4 answers · asked by Matthew M 3 in Business & Finance ➔ Personal Finance
If, or when, I talk to them they will know I am not looking for them to go faster. They know I am only trying to help. I just am not sure of all the questions to ask to make sure we have all the bases covered.
2007-04-06 18:26:44 · update #1
You might ask your parents if they have a will and where they had placed it - with a lawyer, in their home safe, in their safety deposit box at the bank, etc.
After all, what good is a will if nobody knows about it or where it is.
As for their bank accounts, life insurance policy's, stocks, etc., instead of asking invasive questions about what they have, you might just mention that it would be a good idea that they list "all" of their assets, etc. - what they have, who it's with and also account #'s, etc, and place the list, and other pertinent items - stock certificates, insurance policies, etc. in with their wills.
They should make a conscious effort to keep the list and the will updated.
Millions of dollars are lost on a yearly basis by family members not having wills and/or a listing of those items.
It's the reason all states have websites for unclaimed money and property
2007-04-06 18:55:09 · answer #1 · answered by echo 7 · 1⤊ 0⤋
It all depends on your relationship with your parents. I myself would be blunt just like you asked here. Those questions are not pushing, just inquiring about a loved one. If they need help with something, suggest a source if you know of one. These things are as you said inevitable so don't wait ask as soon as you can. This way they can tell you what their plans are and how you can be involved
Good luck
Bob Laibach
www.gogreedy.com
2007-04-06 18:32:29 · answer #2 · answered by Robert L www.gogreedy.com 2 · 1⤊ 0⤋
What you should do is ask your parents if they've made a will.If they have this document will cover every aspect of thier finanes and assets.Nothing else is required.If they have'nt made a will encourage them to do so.Usually a lawyer retains a copy of a willand gives the oriinal to the person making the will
2007-04-06 18:31:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋
you can ask... but you have to be careful how you ask... because then their gona think you want them to pass on so you can get their money!... but limit the questions... and dont go into too many details. just ask if they have a plan for if something was to happen... that kind of a thing.
2007-04-06 18:23:37 · answer #4 · answered by Alex 5 · 0⤊ 0⤋