Estate Planning for the Sandwich Generation
New Title
New Paragraph
If you're caring for parents and children at the same time, you need two sets of documents: your own plan (guardians for minors, a trust for their inheritance, powers of attorney and health care directives) and your parents' lifetime documents so you can legally help them.
Being "sandwiched" between aging parents and children is common along the Gulf Coast, where many families have moved grandparents closer to home. It's also when the absence of legal documents hurts most.
For your parents
- Durable power of attorney so you can pay bills, talk to banks and handle property
- Health care surrogate, living will and HIPAA release so doctors will talk to you
- A will or trust that reflects their current wishes and the caregiving you provide
- Beneficiary designations checked and coordinated
Without these, you may need a court guardianship to help a parent who loses capacity.
For your children
- Guardian designations for minor children, with backups ( learn more)
- A trust so any inheritance or life insurance is managed until a sensible age, not handed over at 18
- Adult children: once your child turns 18, you need their power of attorney and health care surrogate to help in an emergency
For you
Caregivers are often the ones without a plan. Your own power of attorney and health care directives protect both your parents and your children if something happens to you.
Fairness among siblings
If one child provides most of the care, parents sometimes want to recognize that in their plan. A clear written plan reduces family conflict later.
See our legal checklist for aging parents and tips for starting the conversation.
Talk with a Florida estate planning lawyer
Trusted Elder Law & Asset Protection helps families in Pensacola, Escambia, Santa Rosa, Okaloosa and Walton counties plan ahead. Call 850-607-2222 or schedule a free Peace of Mind Strategy Session.
This article is general information about Florida law, not legal advice for your situation.
