Oct 1, 2005 12:00 PM, By Thrupthi Reddy, senior editor, Trusts & Estates, New York

By: By Thrupthi Reddy, senior editor, Trusts & Estates, New York

Advisors take note: Baby Boomers and their parents need to do some serious talking. According to a new study, Americans in their 70s are more at ease talking about estate-planning issues than people in their children's generation are. This is the finding of the latest study in the Hartford, Conn.-based Hartford Financial Services Group's “Family Conversations” survey series.

The survey, released in September, found that 76 percent of the 500 older respondents (aged 70 to 79, with at least $75,000 in assets and one child) said they actually wanted to discuss such topics as their estate planning, medical care and final arrangements with their offspring. Only 45 percent of the 450 Boomers (aged 45 to 65, with at least $75,000 in assets and one living parent) reported feeling at ease having such talks with their parents. The survey was conducted by telephone between May 7 and May 22 by the Washington-based public opinion and research firm Mathew Greenwald & Associates, Inc.

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