There used to be a list of forbidden discussion topics, including sex, adoption, religion and politics.

Today we openly discuss these with family and strangers with few qualms. In many families, money remains on the list of forbidden topics. This inability to discuss how we view money, our money history and how it influences our decisions, can lead to high stress in our relationships.

Counselors see this in relationship roadblocks between couples. Attorneys, financial advisors, religious leaders see it manifested in the inability to come to agreement or decisions. It can get in the way of moving forward with our family, career and life goals.

As people live longer, intergenerational conversations become more important for all involved. For the older generation, Social Security and company pensions offered financial security. With longer lives and decreased inflation adjustments, many find income falling short. Younger generations must plan to finance their own retirement. Most likely with less government program support. Planning and preparing for potential events can help all deal with difficult decisions. What would you do if Mom or Dad can no longer afford their home? Who will make medical decisions if you are disabled? There are options however the best ones require time to work through. If the family waits until the bills are overdue or disability occurs, the options are less desirable.

I find that children may have trouble getting Mom and Dad to talk about their finances and legacy plans. Or they may not want to talk about it themselves. It can be especially difficult if the picture is not pretty. Mom and Dad may be concerned about being perceived as showing favoritism if they make their plans known. You can assure that financial plans, gifting, estate plans, medical needs and decisions are covered without having to divulge all the details. Getting started is often the toughest part. Check out this article from the Wall Street Journal or attend our Straight Talk! discussion group on August 30 for ideas. Call 941.927.9590 to reserve your place.