the Price of a Financial Planner

After a death in the family, my parents became very anxious about their money. Despite having their future retirement situation entirely set up, they still worried about losing their money and property should either of them develop a long term illness or have to go to a nursing home. I set up and paid for an appointment for them to visit with a financial planner regarding their financial wishes.

The initial appointment that I set up turned into several shorter appointments to make sure everything was in order. Luckily, there was no extra charge for these follow up appointments. As an only child, I knew that their future financial state would have a direct bearing on me if they did require long term care, so I was involved in the process as well. In the end, a living trust was established for my parents as well as two separate trust funds for my children so they would not have to miss out on a college education, should anything happen to myself or my parents.

If your parents need some financial advise and you're in the position to afford it, assist them in getting it. They've provided for you your whole life and now's the time to return the favor. In my case, I knew that I would be expected to pick up the tab, as it were, should my parents need constant medical attention, so this was a big relief for all of us, to get everything straight now.