{"id":14859,"date":"2026-05-08T10:20:49","date_gmt":"2026-05-08T10:20:49","guid":{"rendered":"https:\/\/globalnewstoday.uk\/index.php\/2026\/05\/08\/what-your-adult-children-need-to-know-about-your-finances-wgme\/"},"modified":"2026-05-08T10:20:49","modified_gmt":"2026-05-08T10:20:49","slug":"what-your-adult-children-need-to-know-about-your-finances-wgme","status":"publish","type":"post","link":"https:\/\/globalnewstoday.uk\/index.php\/2026\/05\/08\/what-your-adult-children-need-to-know-about-your-finances-wgme\/","title":{"rendered":"What your adult children need to know about your finances – WGME"},"content":{"rendered":"

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by WGME
Most parents spend years planning for retirement<\/a>, but many leave one important step unfinished: making sure their adult children know where to find critical financial information in the event of an emergency.<\/p>\n

\u201cEstate planning isn\u2019t just about passing down assets,\u201d said Adam Carrier, relationship manager at Empeople Credit Union<\/a>. \u201cIt\u2019s also about helping your loved ones through a stressful time, when important decisions often need to be made quickly.\u201d
Carrier said adult children don\u2019t need to know every financial detail, but there are three essentials every family should cover.
1. Who the beneficiaries are and where accounts are held<\/strong>
Adult children should know who is listed as a beneficiary on key accounts <\/a>and where those accounts are located. This includes retirement accounts, life insurance policies, and any investment or savings accounts that would be accessed after death.
\u201cBeneficiary designations override wills,\u201d Carrier said. \u201cIf those aren\u2019t updated or easy to find, families can run into delays or disputes.\u201d
2. Where important documents are located<\/strong>
Families should create a simple list of where to find critical documents, including wills, insurance policies, property deeds, account information, and contact details for advisers or attorneys.
\u201cYou don\u2019t need to hand over documents,\u201d Carrier said. \u201cThey just need to know where they are and how to access them if something happens.\u201d
That list can be physical, digital or both. The key is that it\u2019s clear and kept up to date.
3. How to access accounts and who has authority<\/strong>
Digital access has become one of the biggest challenges during emergencies, Carrier said. Adult children should know where passwords are stored and who has legal authority to make financial and healthcare decisions on behalf of a parent if necessary.
\u201cIf no one has access, bills don\u2019t get paid, accounts get frozen and stress piles up fast,\u201d Carrier said.
The one document families should have ready<\/strong>
If families only prepare one document, Carrier said it should be the Power of Attorney (POA).
A POA allows someone to act on your behalf financially if you become unable to do so. Without it, families might need to go through a court process to gain access to accounts or make financial decisions.
\u201cIt\u2019s one of the most important documents people don\u2019t have,\u201d Carrier said. \u201cAnd it\u2019s usually needed when families are already overwhelmed.\u201d
He also recommends a healthcare proxy, which names someone to make medical decisions if you\u2019re unable to communicate.
It\u2019s also helpful to designate successor agents who can make decisions if the primary agent dies, is incapacitated, or resigns.
How to start the conversation<\/strong>
Many parents avoid these discussions because they feel uncomfortable or premature. Carrier said framing the conversation as estate planning<\/a> \u2014 not planning for the worst \u2014 can help.
\u201cThis isn\u2019t about expecting something bad to happen,\u201d he said. \u201cIt\u2019s about making life easier for the people you care about.\u201d
Starting small can make a big difference. Even sharing a document list or naming a point of contact is a meaningful first step.
Estate planning doesn\u2019t have to be complicated, and families don\u2019t have to figure it out alone. If you have questions about beneficiaries, account access, or preparing important documents, Carrier encourages members to call Empeople Credit Union, visit their website<\/a>, or stop by a local branch.
This article is sponsored by Empeople Credit Union.<\/em>
2026 Sinclair, Inc.<\/p>\n

source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Now39\u00b0Sat54\u00b0Sun63\u00b0by WGMEMost parents spend years planning for retirement, but many leave one important step unfinished: making sure their adult children know where to find critical financial information in the event of an emergency. \u201cEstate planning isn\u2019t just about passing down assets,\u201d said Adam Carrier, relationship manager at Empeople Credit Union. \u201cIt\u2019s also about helping your […]<\/p>\n","protected":false},"author":1,"featured_media":14860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-14859","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/posts\/14859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/comments?post=14859"}],"version-history":[{"count":0,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/posts\/14859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/media\/14860"}],"wp:attachment":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/media?parent=14859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/categories?post=14859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/tags?post=14859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}