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Are you about to join the sandwich generation?

Perhaps you are in your fifties and have a loving spouse, a career you enjoy and some free time to travel and pursue your hobbies. It sounds like a great life, but you see warning signs ahead. Your son, soon to graduate from college, is having trouble finding a suitable job. Your elderly parents, once so spry, are showing signs of forgetfulness and failing health.

It appears you are about to join what is known as the sandwich generation, which includes people about your age who suddenly find themselves responsible for both adult children and aging parents. Life as you know it may soon change, but you can mitigate the issues if you take action now.

Be up front

Do not become the kind of person who deals with the needs of everyone else before your own. While it may be somewhat difficult, discuss future options with your son and your parents. Find out what they expect and how prepared they are. For example, do your parents have long-term care insurance? Have they considered an assisted living facility? Has your son thought about a part-time job while he continues to look for a position in his field of interest?

Preserve your assets

Your budget may have to stretch to allow for some financial help should your son or your parents need it, but you have to plan for your own future. You should not have to deplete your savings or retirement account to help others.

Develop a plan

Now might be the perfect time to discuss the upcoming “sandwich” situation with an experienced family law attorney who can help you and your parents with a plan for moving ahead. Possible subjects for discussion might include wills, trusts and long-term care. You may find it easier to talk with a professional about legal and medical decisions your parents will have to make and how you can balance their needs with those of your son without sacrificing the kind of life you and your spouse have come to enjoy.

 

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Brandon Family Law Center, LLC

813-438-7119 or 800-769-0129 Contact Us for a Consultation