Hi Taylor: My dad passed a few years ago and my husband and I just moved my mom into an assisted living facility. We’re all dealing with the emotional part of it pretty well, but I’m starting to stress about the finances. Not just paying for mom over these next few years, but what happens with her accounts after she passes. Anything I can do to start prepping?

Hey Rachel: This is a really hard question for people to ask, but it’s so important. None of us likes talking about death, but we owe it to our parents — and our children — to have these conversations early and often so there’s no administrative nightmare attached to a loved one’s passing.

Taylor Kovar is CEO of Kovar Capital. Read more about him at GoFarWithKovar.com. Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/ or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

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