I really don't have a clear picture of my parents finances, it's just not something that ever came up. I think my brothers who live much closer know what's going on, but I'm not sure of even that. On the other hand, my daughter knows everything there is to know about mine, including passwords to my bank accounts in case there's an emergency, even though I'm only in my fifties.
Even if you think everything is all right, problems can come up unexpectantly, like the man in the following article found out. The article also talks about ways we can approach our parents to open up this subject for discussion.
When Your Parents’ Money Is Your Problem
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