Link: UCOP's e-newsletter

Stay Informed. Stay Connected.

How to have a productive family conversation about finances — and how UC can help

In life and money, timing needs to be right. This rings particularly true for family conversations about sensitive topics like retirement security, elder care and estate planning. These conversations are important, yet difficult. Here are some tips to help you navigate family financial conversations:

  • Start talking early and ask a lot of questions. The earlier and more detailed the conversation is, the more prepared your family will be.
  • Follow the “voice not vote” rule. While all family members should have a role in the planning process, the final decisions about finances, health care and elder care need to be made by the person whose money and care are under discussion.
  • Plan conversations in advance. Determine which conversations your family needs to have and define each family member’s role.
  • Revisit the conversation often. Schedule follow-up conversations as needed to keep the momentum going and make sure financial plans still make sense.

To help you address difficult subjects, work on developing habits of successful family communication. For example:

  • Be aware of your tone of voice and how it may come across to others
  • Think out loud, so others can hear what you are thinking and feeling
  • Cultivate positive beliefs about other people, instead of assuming the worst

UC resources that can help

Financial consultations and workshops

UC offers workshops and personal consultations with UC-dedicated retirement planners for guidance on financial matters, including retirement security. These services are provided onsite at UC by Fidelity, our vendor partner. Convenient telephone consultations are available at 800-558-9182.

Legal services

For 2019, ARAG Legal Insurance includes trust planning services as a standalone, paid-in-full benefit, as well as access to eldercare advocates who can assess elder care needs, answer questions and help develop care plans to meet specific caregiving needs.

Eldercare support

UC also has many family care resources to help you balance work and family responsibilities, including access to the Bright Horizons website with its networks of pre-screened providers.

Leave your comment here