How to have the 'inheritance talk' with your parents

If it's done right, it doesn't have to be awkward

Mother and daughter.
(Image credit: iStock)

Talking about money is taboo. But asking your parents about your inheritance? That's a discussion more awkward than your seventh-grade school picture.

For many people, however, it's increasingly necessary to have that conversation. As Social Security and other safety nets wither, more and more young adults are depending — rightly or wrongly — on inheritance to help bolster their long-term financial plans. A shocking 62 percent of millennials expect inheritance to help fund their retirement. Unfortunately, many of them may be living on false hopes, as only about 40 percent of Baby Boomers expect to leave money to heirs.

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Nathalie Lagerfeld

Nathalie Lagerfeld is a writer and editor based in Chicago. Her work has appeared in Vice, Atlas Obscura, The American Scholar, and Time.