Do you allow your child to participate in adult conversations?

Usually I try to have conversations with my husband after the kids go to sleep but if one should arise when the kids are awake I will ask them to leave the room as it is an "adult conversation" and not for kids ears. However, we do have times when we call the kids in and we all have a conversation (usually about things we need the kids to stop doing; like forgetting to flush or leaving lights on) and sometimes we will ask their opinion on things being done to the house. But we do not allow them to interupt our conversations or put their two cents in unless we ask them how they feel about the situation. We try to teach them to have respect and not listen in on others conversations and say excuse me if they have something really important that is a valid reason to interupt us (like a phone call or nose bleed).