You are said to be a part of the Sandwich Generation if you have to juggle between fulfilling the role of a parent, raising your family and the role of a responsible child to your parents who are growing older. Consequently, you will find yourself under a lot of physical, emotional, and financial pressure as you try to make it work.
You may be asking yourself:
“What kind of care should I choose for my mom and dad?”
“What are their wishes if they get sick or pass way?”
“Who will make health decisions or handle their finances?”
“Will mom and dad run out of money?”
“How will they or we pay for their long-term care costs?”
These questions and the surrounding circumstances can be overwhelming and exhausting. So it’s easy to put them aside to free yourself of the pressures for a bit. However, it will still be you who has to deal with any issue that may arise. That’s why it’s futile to wait for the worst to happen before you take action. You play a very important role in the lives of your parents and it is important that you arm yourself with the right knowledge on how to deal with your position with confidence. This involves planning and dealing with potential problems in a proactive, rather than reactive way.
Snyder Law offers you The Sandwich Generation Guide as a way to help you get started. Read on to discover new ways of balancing your busy day-to-day routine, as well as how to plan effectively for your parents and your family’s future.
Helping Your Parents Plan Ahead
You may think you have your family affairs in order, but there are so many little details that can easily slip through the cracks if you’re not paying enough attention.
Begin your planning with an honest conversation with your parents even though beginning a dialogue can be difficult. Involving your parents in these important decisions will reduce stress and possible conflict amongst family members later who may fight amongst themselves to decide what they believe to be the best care for their parents.
Find out if your parents already have an estate plan and encourage them to move forward with one if they do not. If they do, you are one step ahead. It will then be important to know where legal and other important documents are stored, so they can be accessed when you need them the most. Estate plans also must be kept up-to-date to make sure that they are still valid, comport with new laws, and still incorporate their wishes and operate to achieve their goals. To ensure that your parents’ wishes are fulfilled to the fullest, encourage them to have their plans reviewed.
As you parents age, they depend on you to assist with their end of life care. By making sure that all necessary documents are in place and up to date, you will reduce any unnecessary burdens, and prepare yourself, your family, and your parents to welcome their age with ease.
At the Snyder Law, we are here to assist you with your parents’ estate plan and relieve you of some of your stress. You can download our FREE Sandwich Generation Guide to gain more valuable insight into how to be prepared for this stage in life. This comprehensive guide covers everything you might want to know, from the initial conversation to late-stage measures.
Do you have more questions? Ready to schedule an introductory call?