Ann’s situation is one that arises more and more frequently. While ageing parents are also enjoying longevity many will find themselves unable to make their money last as long as they do. Should their children help them? Quite often, when their adult children can, they do.
But not every situation is so easily solved and not every sibling is on the same page. It can be an emotional minefield of guilt, jealousy and recriminations and raises the moral question of what is ‘right’.
It is a shock for some that their parents didn’t plan better (or do ANY planning for that matter). At a time in their lives when baby boomers might expect to be enjoying financial security and leisure time they are likely to have increased demands on their financial and other resources. This can give rise to some monumental family conflicts.
It also raises the question: ‘what does this mean for future generations?’