It’s August, So It Must Be Make-a-Will Month

So August is National Make-a-Will Month. Who knew? Getting a will isn’t the most pleasant of tasks, and consequently, too few people do it. A recent survey of more than 2,000 people by the online legal service Rocket Lawyer found that 64 percent don’t have wills. The biggest reason cited by folks: They just never got around to it. Some said they didn’t want to think about death. You might believe that only wealthier families need a will. You’d be …

Silence Could Be Costly in Family Financial Planning

Parents and their adult children say they want to have honest conversations about finances and retirement issues, but they just don’t agree on when to talk, according to a survey released today by Fidelity Investments. And when these discussions do eventually occur, they often don’t get down to the details needed for proper financial planning, the Boston-based investment firm found. Lauren Brouhard, senior vice president of retirement at Fidelity, urges families to bite the bullet and talk – before parents retire …

Is Marriage More Loving, or Boring, in Retirement?

Is marriage more boring or more fulfilling in retirement? (Hint: It’s better than you think.) Do spouses in blended families have different financial priorities for their own children than for their stepchildren? These were some of the questions that 5,415 people were asked in a study called “Family & Retirement: The Elephant in the Room.” Folks weighed in about their hopes and fears when they retire, whether they’d sacrifice their own financial security to help their adult children now, and …

Family Affairs: Do Your Kids a Favor

This is a guest post by Bart Astor. The other day I saw an ad with the headline, “Do your kids a favor.” It went on to say, “You checked for monsters under her bed, sent her to the best school, and helped her buy her first car. Now, do her one more favor.” That favor involves making plans in advance and communicating your wishes to your children. The ad, for a funeral home, takes a subject people don’t like …

Many Boomers Don’t Have Wills, Poll Finds

  Who wants to think about death, particularly your own? Drafting a will is an unpleasant task, so startling numbers of Americans say they never get around to it. A new survey finds that 41 percent of boomers (born 1946 to 1964) and 71 percent of people under the age of 34 don’t have wills. Procrastination was cited as the biggest reason (34 percent), followed by feelings that it was unnecessary (22 percent)  or too expensive (21 percent). Don’t tell Fido, but 61 …