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AARP The Other Talk: A Guide to Talking with Your Adult Children about the Rest of Your Life by Tim Prosch

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CHAPTER SEVENFinancing Your Uncertain Future

I wish I had known what the rights of trustees were in advance, that they get to decide what funds are liquidated when and that they are represented by counsel, who is paid for out of the estate. I also discovered that one sibling can waste a lot of the trustee’s time and accordingly draw down on the estate with constant arguing and stonewalling.

—Margie, focus group participant

One of the most complex and daunting challenges that we face as we get older is trying to figure out how to manage our money in the last years of life. The problem, quite simply, is that the ending (when, where, and how) as well as the associated costs are unknowable.

Sadly, many people deal with this financial conundrum the ...

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