The following five tips will keep the conversation flowing - and friendly:

1) Start now. You want this conversation to evolve over time. If your parents are in their late 50s or early 60s, it's the perfect time to ask them about their plans for the future. Find out when they are thinking of retiring. What are they excited about? What makes them nervous? If your parents are already retired, find out if it's what they expected. What would they like to be different? Start the conversation with hopes and dreams, not 401(k)s and social security checks.

2) Show respect. No matter how you feel about the way your parents have planned - or not planned - for their future, treat them the way you would any other adult: with respect. Explain that you want to honor them as you all move into the future together. If you need to have more in-depth conversations about financial issues, have them without your partner or your siblings' partners present. Older adults can be very private about financial issues and will likely feel more comfortable talking with their children alone rather than with the in-laws, no matter how loved they are.

3) Keep it simple. As your parents age, have a clear list of topics to discuss with them….be sure to include your siblings. These will help you all figure out where your help might be needed and where it's not. Ask your parents:

Where do you want to live in 10 years? 20 years?

What type of lifestyle do you want?

Do you have a financial advisor?

What legal documents do you have in place (i.e. wills and trusts)?

What kind of financial resources do you have? Are these sufficient for the lifestyle you want to have?

Where would you like to be buried?

4) Be patient with your siblings. Make sure you stay in contact with your siblings about any financial conversations you have with your parents—this is where conflict among siblings can begin if there is not complete understanding and agreement about parents' wishes. If there are disagreements, try to work them out as best you can. Be sure to pick your battles wisely - what is important to you may not be important to your siblings and vice versa. Remember, you likely have different Money Personalities and will approach finances differently. You need to put those differences aside for the sake of your parents.

5) Check in. You don't have to badger your parents about financial issues, but be sure to check in once a year or so. Find out how they're doing. Ask about those hopes and dreams. Are they living the life they wanted? If not, are there ways - either financial or otherwise - that you and your siblings can help?

Stick with these conversations, even if they don't seem to get anywhere in the first few tries. Opening the lines of financial communication will eliminate stress, take away surprises and will give all of you peace of mind.

Money Huddle tip: Make sure you keep your partner in the loop on the conversations you're having with your parents. If you find yourself wanting to help them out financially, make that decision as a couple.

Bethany and Scott are a love-and-money expert duo with over 38-years of combined financial planning experience and focus on financial communication between families and couples. They are the authors of "FIRST COMES LOVE THEN COMES MONEY: A Couple’s Guide to Financial Communication" available at www.themoneycouple.com