If you have named your child or children as your successor trustee or as your Power of Attorney agent, you have already deemed your adult child to be financially responsible and capable of taking care of your assets on your behalf if you are unable to. Right now while you are still alive and well, it can be advantageous to have conversations about your finances so that your children can smoothly take control of your affairs when needed.

If you have minor children or additional children that you have not selected as your Trustee or Agent, you most likely will not want to discuss finances with them or wait until they are an appropriate age to have these conversations.