posted by Chris | As a member of the ‘sandwich’ generation, I am keenly aware of the pressures of both raising children, while at the same time developing a deeper relationship with aging parents.
While the generational family baton is passed at different times for different families; at some point you will need to have a very serious and personal family meeting that will help smooth the transition as your parent’s age. Please review the list and show it to your parents. Their cooperation and input will make things smoother during their transitions.
1. Do you have a will or a trust? Where are the papers
2. Who is your trustee & power of attorney?
3. Do you have a safety deposit box and where is it?
4. Do you have enough to retire, or if you are retired, are your finances sufficient for the rest of your life?
5. Who manages your investments?
6. Do you have life insurance and/or long term care insurance?
7. Who are your doctors? What medicines do you take?
8. Do you have hiding places in the home where you have placed valuables? You don’t want something thrown out or overlooked.
9. How do you want your final arrangements handled?
These are not easy topics. But as your parents age, having answers to these questions will make things easier for all involved. Other posts by Chris linked below.
Christopher J. Conner
Certified Financial Planner TM
Certified Fund Specialist
Gainesville, Florida 32607
352-225-3132 (Fax) 352-225-3784
Advisory Services offered through Jonathan Roberts Advisory Group.
Securities offered through J.W. Cole Financial, Member FINRA/SIPC.
Any statements expressed with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance may not be statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects'", "will," "anticipates," "estimates," "believes," or that by statements indicating certain actions "may," "could," or "might" occur no representations, warranties, or guarantees as to the accuracy or completeness of this information. This is not an offer to purchase or sell securities. Past performance is not an indication of future results.
Other Posts by Chris