In a national study of Sandwich Generation Women, creating a good support team as soon as possible was identified as an important key to helping an individual successfully navigate this challenging stage of life.  

Key Team Members

Financial Advisor 

  • There are many varieties of financial advisors and their differences are significant.  
  • Our study of Sandwich Generation Women revealed a strong preference for a fiduciary wealth manager who acts as a “quarterback,” coordinating all advisors on your team.

Estate/Elder Care Attorney

  • An excellent attorney to have on the support team for an aging individual. 
  • Choose one who will not only provide solid legal advice in language you can understand, but also one who has the time and inclination to provide advice on how other clients have handled issues of aging, elder abuse, and intra-family issues that may surface.  

Accountant

  • Like many professionals, accountants have varying areas of expertise and service models.  
  • Make sure you understand what your accountant will and won’t do for your elderly loved one.  
  • You may want to consider working with a firm with in-house bookkeeping and bill paying services, or one who coordinates with other professionals who provide these services.

Geriatric Care Manager

  • Geriatric care is a growing and highly diverse industry.  
  • These individuals are often highly trained social workers or nurses who can evaluate care needs, provide oversight to existing caretakers and bring in other resources as needed.  
  • The best geriatric care managers are often found through referrals from your other team members, local retirement communities, or other local organizations that provide services to the elderly.   
  • Interview several care managers at the first hint that there may be a need for one, in order to avoid making a rushed decision when you’re in crisis.  

Quality Control

When assembling your support team, do your research on the various professionals. As you become a Sandwich Generation Woman, this due diligence will aid in your success.  Interview several candidates to find the right “fit,” then conduct additional follow up to confirm each service provider will provide the services and support you need.  

Geriatric Care Managers, for example, are less regulated than other team members.  Once these individuals are in place, be sure to keep regular, ongoing communication with your team so they stay up-to-date with your needs and any changes with your loved one.  Not only will you get more out of your support team with this approach, it will give you great peace of mind that you’re not in it alone.  

Disclosure: SYM Financial Corporation (“SYM”) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about SYM, including our investment strategies, fees, and objectives can be found in our ADV Part 2, which is available upon request.