Many Colorado residents are members of what is often called the “sandwich generation”- people raising their own children while also taking care of their aging parents, thus being “sandwiched” between the two roles and care taking needs on both sides of the family tree. Being a part of the sandwich generation can be incredibly stressful, especially during the current pandemic and economic downturn. However, with an effective Colorado estate plan in place, members of the sandwich generation can lessen some of the stresses that come along with their role
One major concern of the sandwich generation is how to take care of their parents as they age and require more attention and services. Unfortunately, there may become a time when the sandwiched individual has to assume the role of caregiver and make important, life-changing decisions for their parents. This can be extremely difficult and overwhelming, especially if the individual has not planned ahead and created an estate plan for their parents. Without an estate plan, they may find themselves unsure of what an incapacitated parent would have wanted, or unable to make important legal, financial, or even medical decisions when their parent falls ill. This can come as a shock to many members of the sandwich generation.
That’s why Colorado residents are encouraged to work with their parents to create an estate plan as soon as possible, so that they can have the proper legal documents that authorize them to act and make decisions on their parents’ behalf. It can also be beneficial for members of the sandwich generation because it allows them to talk through future plans with their parents before things get more challenging, which can eliminate guesswork and stress in the long run. Working with aging parents to create an estate plan can ensure that everyone is on the same page about what happens with a parent’s estate after their death, for example, or who has power of attorney to make legal and financial decisions on their behalf.
Navigating raising children and caring for aging parents can be difficult and emotionally overwhelming. While nothing can change the situation for members of the sandwich generation, there are tangible steps they can take early on to prepare for the future and minimize the amount of stress down the line. Of course, estate planning can also be difficult and emotionally overwhelming. That’s why Colorado residents are also encouraged to work with an estate planning attorney with experience assisting members of the sandwich generation through the process.
Contact a Colorado Estate Planning Attorney
Are you considering creating an estate plan for yourself or your aging parents, but do not know where to begin? Start by calling the Boulder estate planning attorneys at Braverman Law Group. Our team has experience helping Colorado families just like you and assisting them through the overwhelming process of creating an estate plan. We understand the various pressures you may feel while caring for aging parents and your own children, and aim to eliminate stress and set you and your family up for success as best we can. To learn more and discuss your options with one of our compassionate and dedicated attorneys, call us today at 303-800-1588.