Many are familiar with the term ‘sandwich generation’ but aren’t really sure what it means. The Sandwich Generation describes middle-aged adults who have aging parents and adult children. We’re the part in the middle, between two generations, just like a sandwich.
It’s important to know, as a member of the Sandwich Generation, details about our parents’ strategy for managing and distributing their estate upon incapacity or death. You may want to get involved in that conversation early on, giving enough time for thoughtful consideration as to the many diverse options and outcomes.
If you are named as a trustee or beneficiary of your parent’s estate, you’ll surely benefit from a comprehensive understanding of any estate planning they’ve done – or may need to do. A well-planned estate will make it easier for you to manage, protect and distribute your parents’ estate among the beneficiaries.
Your children will likewise benefit from mindful planning around managing your affairs in the event of incapacity and distributing the estate upon your passing. Proper estate planning helps to ensure that WHO you want gets WHAT you want – in a safe, protected manner.
Planning for our parents’ eventual passing – and our own – is never an easy subject to broach. The professionals at Life Planning Inc. will help you navigate these important conversations with ease and grace. Let’s begin that conversation!