BALANCING ​THE CARE FOR CHILDREN & PARENTS

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Being in a position to take care of both your young children and your aging parents is a blessing.  More and more adults between ages 25 and 60 are both involved in the day to day care of their aging parents while simultaneously receiving financial support from them.

The biggest risk for those in the middle is that they may neglect their own financial stability and comfortable retirement under the assumption of inheritance or support from their children when they reach an advanced age themselves.
 

With gift tax, estate tax, and Medicare & Medicaid laws continuously in flux, it is a wise investment to work with a financial planner to review your assumptions at least annually and whenever there are significant changes in your family.