How much should your kids know about how much money you have in the bank? When should they start saving for college? Where do you stand on allowances?
Having a money talk with your kids is one of the most important things you will do as a parent, and family wealth manager Bruce Hyde, a partner at Roundtable Wealth Management in New Jersey, says you don't have to be rich to get started.
"Whether it's $1,000 or $100 million, I think the conversation is the same," he told CNBC's "American Greed."
In one of the most extreme examples imaginable of a child learning nothing, Oklahoma teenager Alan Hruby became obsessed with material wealth.
"He enjoyed the finer things of life," Stephens County District Attorney Jason Hicks told "American Greed." "We're talking Coach, Versace, Gucci. He had 20, 25 pairs of shoes."
The oldest child of a wealthy family, he had a stake in a $1 million family trust fund, accessible when he turned 21. But he was unwilling to wait. When his parents would not give him money, he turned to his grandmother, who had dementia. When his parents finally cut him off, he went on a murderous rampage.
No matter what is going on in your family, Hyde says discussions about money can be the touchiest of all.
"Probably the most difficult issue that we have to deal with as a firm is that very issue of the family wealth dynamic," he said. "Unfortunately, it's human nature and it's been that way for a long time."
Every family's situation is different, but Hyde offers some common threads.