Reply to Private school vs paying for inlaws extended care

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[quote=Anonymous][quote=Anonymous]OP, I would just caution you about what you are getting into.

Consider how you handle paying for assisted living, if you decide to do so. Setting the precedent that you are paying the bills could make you legally liable and the facility could come after you to recoup everything.

I think you have great intentions and maybe you can afford this now, but as others have commented -- what if your in-laws live another 20 years and the bills start skyrocketing as they need nursing care. This could easily be $200,000 a year or more.

The suggestion to consider a facility that accepts Medicaid I thought is a good one.
[/quote]

Welcome to the "sandwich generation".  We're in it as well.  Married later.  Had kids later.  And now are juggling necessary private school (SN) for one kid, college for two others, and elderly parents on both sides while we should be planning our retirement.  Care for one parent was $300K a year for six years and wiped us out.  And all the savings and trust funds I set up when the children were born were decimated by the recession.  I have no answer except to stay healthy and keep working, as we are, for as long as you can.  God bless you for taking care of your parents.[/quote]

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