When it comes to the reality of talking with our parents about money and aging, there is never really a right time. But there is probably a better time - and this is what you can do about that.
If you're part of the Sandwich Generation, there's a good chance you’ll become part of the growing number of adult children who will have to get involved with their parents' financial lives as they age.
Yet, the overwhelming majority of adult children – have not had detailed conversations with their parents about their finances, their estate wishes and plans.
When it comes to romance and relationships, the emotional decision about who you think is your partner, may be very different to the legal decision about who is legally considered your de facto partner.
The questions about who may be a boyfriend or girlfriend and who is a de facto become important distinctions when it comes to super payouts, life insurance payouts and family law claims on your finances, investments and property interests.
Simply put, you can nominate in writing who you want to receive any future payout with a Beneficiary Nomination or Binding Death Nomination (depending upon what you choose).