Conversations About Managing Finances and Documents

Money is an emotionally charged subject. In part, it can represent control, which naturally diminishes as we age. Studies have shown that personal finances is the ultimate taboo discussion topic (ahead of death and sex). Creating a trusting relationship with client and family helps all parties involved.

Opening comments

It is nice to see you again. Before we start, is there anything I may do to make you more comfortable?

I am going to review with you a list of important topics for us to cover in order to that we do everything we can to help you make the best possible financial decisions. Unfortunately there are a lot of scam artists out there, and part of my job is to help you protect your financial assets. So there are a few questions that I would like to ask to help make sure we are doing everything possible to keep you and your assets safe.

Questions

Have you talked with other trusted family members, like your kids, about partnering with you in future financial planning?

I strongly recommend we start involving them. It is good insurance in case something happens. It is better to start these conversations sooner rather than later. Can you bring them to our next meeting, or include them in a conference call that we could have the next time you come in?

There are important financial-related documents that you should have. Do you know if you have any or all of these documents in place: will, trust, durable power of attorney, health care proxy, and living will for medical decisions?

Would you be ok signing a release of information forms so that communication between me and your family can proceed unimpeded?

Do you know if you have any of the following documents: living will, durable power of attorney for healthcare decisions, durable power of attorney for financial decisions, written directives including MOLST instructions and DNR/advanced health care directives, release of information to PCP/lawyer/financial advisor, standard will, hospital visitation form for domestic partner?

Do you need help drafting any of these documents?

Can you locate and identify related information such as five years of tax returns, documents related to other financial or business agreements; current passport, pertinent citizenship records; contact information for primary care doctor, accountant, family lawyer and any other financial adviser(s)?

Is there anything else I can do for you today?

Closing comments

Ok, I think that is enough for today! We both have some homework to do before our next meeting. Please call me with any questions about what we discussed today.

What is the best way for us to communicate going forward?

Thank you for your cooperation. I look forward to working together with you and your family on this important issue. Please contact me at any time before our next meeting if you have any questions about what we did today.