I'm a boomer who's not leaving my kids an inheritance. How do I break the news to them?

Dear Boomer, if you find yourself wondering whether to inform your children that there won't be an inheritance upon your passing, know that you're not alone. In the context of middle-class families, expecting a meaningful inheritance is rare. It's typical to inherit belongings and life insurance, but the idea of receiving substantial wealth from parents is often a matter of joking conversations rather than reality. You shouldn't feel obligated to announce this fact, as it's a matter your family can discuss together.

It's understandable that you might feel a bit anxious about the process, but considering your children's comfort and preparedness, it's best to involve them in your estate planning. They'll need to handle various aspects after your passing, such as end-of-life wishes, memory care, and the eventual sale of your home if needed. While there's no need to make a big scene about your financial situation, a thoughtful conversation about your plans can help alleviate any potential confusion or misunderstandings.

While focusing on the tangible items you might leave behind is important, remember that the intangible legacy of love, laughter, and the memories you've created will be your most valuable inheritance. The emotional bond you've foster with your children, as demonstrated by their camaraderie over your dinner table, is likely the greatest gift you can pass on to them.