The struggles of being in the sandwiched class are that you will need to manage children’s education and your parent’s finances. This article describes some of the issues that I dealt with before. It is by no means exhaustive, and my family’s specific situation may often influence my solution.
I highlight some key issues that need to be resolved and how to think about a customised solution to your personal needs.
i) Facing End of Life Issues
I lost my dad in 2019. But my dad was well prepared for his passing and has written a will. While he was still alive, he was transparent about where he kept the document, and it was a simple will. He has just one wife and just one kid.
The execution of the will was fast because I had legal training. But even that had minor complications. My mother had to renounce the trustee role to me to speed up the paperwork. One interesting
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