The Sandwich Generation

 by Jacqui Brauman

Who is the “sandwich generation”? It’s not one particular generation, as such. It’s more of a situation that you find yourself in. At the moment, the baby boomer generation is more likely to be in the “sandwich generation”.

You are in the sandwich generation if you have elderly parents that need more of your attention, and you also have adult children that are not completely independent yet.

 

You are stuck between these two other generations. You are torn between them. You have obligations to both of them, and you thought you’d have some freedom by now! Just when your children should be grown up and gone, your parents decline and you need to keep an eye on them.

You are the sandwich generation – sandwiched between your children and your parents.

It’s a bit cliche, but make sure you look after yourself first! I mean this in more ways than just physically and emotional caring for yourself. I mean you should get your affairs in order – particularly your estate planning. Because if something happens to you, everything revolves around you, and they won’t manage unless you have a proper plan organised.

Once you have your own estate planning organised, you are in a much better position to speak to your parents about theirs.

Make sure you talk to your parents about their estate plan. Here’s some ideas about how to do that.

Then, drag your children along to an appointment with your solicitor and make sure they do their Wills and Enduring Powers of Attorney. You don’t want to be left trying to administer the estate of your intestate child – when your child dies without a Will, it can be time consuming and costly.

Here are some more articles that you may find important:

Is Estate Planning Just For The Elderly?

The Truth About Refundable Accommodation Deposits or Aged-Care Bonds

Duties and Powers of Executors

Enduring Power of Attorney

Aged Care Basics

Click here to subscribe

2019-02-01T15:25:03+10:00