Generational Family Money Conversations

As the holidays approach, families will be gathering around tables, fireplaces, and long-overdue conversations. While money talk might not be as festive as pumpkin pie or football, these gatherings are one of the times to open the door to generational financial conversations.

Why? Because family wealth, whether modest or substantial, is more likely to grow and stay intact when there’s shared understanding, transparency, and financial planning.

Here’s how to approach it thoughtfully:

1. Start with Values, Not Numbers

Instead of jumping straight into account balances or estate documents, begin by talking about values.

What does financial success mean to your family?

What legacy do you want to leave?

What role should money play in supporting each other?

Conversations rooted in purpose are more inclusive and less intimidating.

2. Involve All Generations

Whether you’re a grandparent planning your estate or an adult child helping aging parents, everyone brings a perspective. Involving multiple generations fosters respect and can avoid future surprises or misunderstandings.

This could mean sharing:

The basics of your estate plan

How you view inheritance or financial support

Lessons you've learned about money

What you hope for future generations

3. Don’t Wait for a Crisis

Too many families avoid money talk until something urgent happens, like an illness, death, or financial hardship. The holidays offer a more natural, low-pressure setting to plant the seeds of ongoing dialogue.

Even a 20-minute conversation now can help prevent years of confusion or conflict later.

4. Use a Knowledgeable Advisor as a Bridge

Sometimes it helps to bring in a neutral third party, such as your financial advisor, estate attorney, or CPA, to guide the discussion. As advisors, we can help clarify plans, explain tax or legal implications, and help ensure your intentions are clearly documented.

5. Be Honest About What You Do (and Don’t) Know

It’s okay if you haven’t figured everything out. The goal isn’t to have all the answers. It’s to create a foundation for open, ongoing communication. You can say:

“I’ve been thinking about how we handle things in the future, and I’d love to talk about that as a family.”

Final Thought

Families who talk about money tend to build stronger financial legacies, not just in dollars, but in trust, shared goals, and clarity. With the holidays coming up, consider carving out a moment for these conversations. It might just become a valuable tradition you start this year.