You’re taking care of your aging parents
with your own kid still at home – now what?
Now, your parents begin to have health or financial issues to add
new stress to your life.
Welcome to the…
Everyone talks about Boomers, Millennials, X, Y, Z. However, few people talk about being sandwiched between a couple of those generations. Let alone, the stress, confusion, and concern about this new juggling act. On one end, you assist with the “learning to fly” stage of life. At the other end, you try to find a smooth landing for your parents.
It’s important to know, on both sides of the sandwich, legal plans that need to be addressed. And it is important to do so before the opportunity is missed.
Long Story Short:
When you pre-plan, YOU control the plan!
Just about the time your own kids are finding the edge of the nest, pressure comes from the other end. Now, your parents begin to have health or financial issues to add new stress to your life.
Starting at the older end of the spectrum, most of our parents are not super open to discussing things. Whether it is real health issues, financial topics, or generally asking for help, they are the bootstrap generation – they get up, get it done, and don’t talk much about it. Their circle of friends hear stories and readily share about awful things that happened to others. Because of that, suspicions arise, and often keep them from doing things that protect and help them.
“DID YOU HEAR ABOUT HELEN’S SISTER’S FRIEND FROM CHURCH. SHE KNOWS SOMEONE WHO’S KIDS MADE HER SIGN SOMETHING. THEN, THE KID TOOK ALL OF HER MONEY AND HOUSE, AND THREW HER IN A NURSING HOME. THAT’S NEVER GOING TO HAPPEN TO ME.”
Sadly, this does happen. However, it is far less common and much harder to do than what people believe. Also, what is missed is that if a person plans proactively, he or she controls the process to protect from such bad acts. Additionally, if a person reaches incapacity without proper documents in place, guardianship is necessary. That is a much more intrusive and troublesome process than executed decision-making documents.