Financial Therapy: silence about money is rarely golden

“No matter how difficult, honest financial conversations among family members are almost always the best choice. Here are some ways to do it.”

“Talking about money can be one of the most difficult issues families face — whether they have a lot of it or not so much. And the steps that rich families take — or fail to take — can serve as a model, or as a cautionary tale, for families of more modest means.”

“‘My profession exists because it’s hard for people to talk,’ said Alison Comstock Moss, chief executive of Paul Comstock Partners, which advises wealthy families. ‘There are risks to silence,’ she said. Risks that money is wasted, improperly invested, lost because of bad record-keeping, given away without any thought, or worse — embezzled.”