By Laurie E. Ohall, Florida Board-certified Elder Law Attorney
July was National Sandwich Generation Month, recognizing the millions of adults who are raising children while also caring for aging parents. If that sounds familiar, you know how challenging it can be to balance the needs of both generations while putting your own needs aside. The good news is that thoughtful planning can ease much of that burden.
One of the biggest challenges is that a crisis involving either your children or your parents can happen without warning. Preparing in advance helps reduce stress and gives your family more options when difficult situations arise.
For your parents, a few essential legal documents can make all the difference. A durable power of attorney allows someone they trust to manage financial matters if they become unable to do so. A health care surrogate designation authorizes someone to make medical decisions and communicate with doctors on their behalf. An up-to-date will or trust ensures their wishes are clear and can simplify the administration of their estate. It is also wise to discuss long-term care planning, including Florida Medicaid eligibility, before a medical crisis forces rushed decisions.
Just as important is making sure your own estate plan is current. You are the one holding everything together, so your family also needs a plan if something happens to you. Make sure you have your own durable power of attorney and health care surrogate designation. If you have minor children, your will should nominate a guardian to care for them. A revocable trust may also provide an organized way to manage assets for your children while coordinating support for aging parents if needed.
Estate planning does not have to be completed all at once. Even taking the first step can provide tremendous peace of mind. By planning ahead, you can protect your parents, your children and yourself from unnecessary stress during already difficult times.
If you are caring for both aging parents and growing children, we would be happy to help you create a plan tailored to your family’s needs. Please call the Law Offices of Laurie E. Ohall at 813-438-8503 to schedule a consultation.