Last week, we looked back at some of the many changes required in our plans while we worked to set up this rewarding situation where Priscilla and Patricia and their families live helpfully together. We feel we have ‘made it’ at last.
We have maximized the resources of all the generations by throwing our lots in together. Right now, we know that we can live here together happily without anyone going broke while our several generations share expenses.
But that is not enough. The future asks whether Patricia’s family will be able to handle the expenses of this large home and office after the older generation has passed away. And, if not, will they be able to handle it long enough to sell the property and downsize without it being like a fire sale?
We think our plan makes that possible, but we cannot afford to just assume the answer will remain the same as time goes by. The economy, our education needs, health issues, and the status of our jobs and businesses could potentially make living here together impossible or unaffordable in the future.
We come back to one of our most concrete pieces of information: Life is uncertain.
Fortunately, looking back at our trip so far into this multi-generational adventure, we see that we can adapt and face unexpected things. It won’t mean that things are over or will fail. It just means planning again … and again.
Planning for the future – both for living and inheritance - matters to all generations. To consider your own family’s plans, please call our office at (815) 436-1996 for an appointment. ©2012 Gruber Law Office, Ltd.