Summer often brings families back together. We gather around the table, spend time at the lake or in the garden, and share the kind of everyday moments that remind us of life’s different phases. Children run around, parents and grandparents exchange stories, and in those moments, we’re reminded that time moves forward.

It’s often during these gatherings that a thought crosses our mind: “I really should talk to my parents about the future — about their wishes, their finances, and the practical things that one day will matter.” And yet, most of us postpone these conversations until it’s too late.

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Warren Buffett once wisely suggested that parents should let their children read their will before signing it. This fosters clarity, openness creates trust, reduces misunderstandings, and allows space for meaningful questions and revisions over time. His point is simple yet powerful: clarity is a gift, and conversations today can prevent conflict tomorrow.

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Why these talks can feel liberating

Handled with care, these discussions can actually lift a weight. Much like taking out an insurance policy, we don’t do it because we expect something to happen tomorrow — we do it for peace of mind. Parents often feel relieved once they know their children understand their wishes, and children feel reassured knowing they won’t be left guessing later.

Of course, not every parent is ready for such conversations. Some may find them too difficult or prefer to keep certain matters private —and that’s perfectly natural. The important thing is to approach gently, with patience and respect for their boundaries.

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How to begin

Every family dynamic is unique, so the right approach depends on your relationship. Here are a few ways to start:

• With parents you’re close to: Make it about yourself first:

     “We’ve been setting up a family file with all our important info. Would you ever want to do something like that together?”

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• With parents you have a more formal relationship with: Lead with respect and ask for their advice.

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    “You’ve handled things so well over the years. What do you think are the most important things I should put in place financially?”

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    “How did you and Dad decide what to do about your will? We’re in the process of setting up a will and would really appreciate some guidance.”

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• Use an upcoming event as a natural lead-in: Birthdays, a move, tax season, surgery, or travel plans can all open the door.

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    “While we’re gathering things for the accountant, could we go over your insurance and will details too?”

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    “Before your trip, would you feel better knowing we’ve talked through a few things just in case?”

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Bringing families closer

Rather than creating distance, these conversations often bring families closer. Gathering documents, updating plans, or even sharing the stories behind financial decisions can become a project of connection — one that communicates respect, love, and shared values across generations.

And if your parents are no longer here, this might be a reminder to do things differently with your own children — to make these discussions a natural part of family life, rather than something avoided.

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A shared challenge

Interestingly, STEP (a global body of more than 22,000 wealth planning experts) highlighted in their 2025 Attitudes to Wealth survey that avoidance and discomfort around discussing wealth within families remains one of the biggest barriers to effective wealth planning. In otherwords: most families struggle with this — and you are not alone.

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Final thought

Talking about money and personal wishes is not about expecting the worst. It’s about creating clarity, easing future burdens, and showing care. Done with respect, these conversations can be one of the most meaningful gifts we give to one another.

If this topic resonates with you and you’d like support in taking the first steps, I’d be glad to help.

Until next time,
Eva

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