To Inform:

Talking with your adult children about money doesn’t have to mean you’re committing to a big, serious “summit.” It can simply mean staying open to the idea and taking a few gentle first steps when it feels right.

You might start by just asking yourself: “If something unexpected happened, would my kids know where to begin?” If the answer is “not really,” that’s a helpful signal—not a failure, just a nudge that a little more openness could make life easier for them someday. Even sharing one or two pieces of information, like where key documents are kept or who your advisor is, can be a meaningful start.

It’s also perfectly fine if you’re not ready to share specific numbers. Many families begin with the big picture: that there is a will, that certain people are named to help, and that you have a general plan for things like your home, accounts, and health decisions. You can always choose to add more detail later as your comfort grows.

In a 2024 survey by RBC Wealth Management, 89 percent of high‑net‑worth boomers said it was important to tell their heirs about their inheritances, but fewer than 40 percent had actually done so. In other words, most parents want to be more open, but many are still figuring out how and when. That gap isn’t a sign of failure; it simply shows that this is a sensitive topic for almost everyone.

If you do decide to test the waters, you might frame it as, “I’ve been thinking about how to make things simpler for you in the future, and I’d like to share a little bit about our plans.” That keeps the tone light, caring, and collaborative—not dramatic or alarming. You can pause at any point, answer a few questions, and pick the conversation back up another day.

And if all you do for now is jot down a short list of accounts, key contacts, and where important papers live, you’ve already taken a step in the right direction. You can always decide later whether to share that list, talk it through, or keep refining it.

The goal isn’t to have a perfect conversation or reveal everything at once. It’s simply to consider whether a bit more clarity and communication could be a kindness to the people you love. You get to move at your own pace, in your own way, and even small steps can make a real difference.

Written by Patrick Finneran, CFP, Client Advisor and Team Leader