Which child will you pick? Many people and many advisors simply think of long-term care situations as a financial problem. Rarely considered is the emotional and physical consequences it will put on family members and the likely strife that will develop between siblings.
Consider that when a parent with multiple children is in a care situation, often times it is one of the children who steps into the care giving role. The other children will do their part by checking in once in a while and maybe even sending post cards and photos of their family on vacation to keep the parents “in the loop” so to speak. Meanwhile, the child who is providing care has created their own prison and is not enjoying the everyday freedom the other siblings seem to be taking for granted.
Over time the care giving sibling will often develop resentment towards the other siblings as they feel they are being taken advantage of. This often results from a lack of understanding by all family members of the severity of the work needed to be a caretaker. Unfortunately, these situations can cause a lasting riff between siblings that can last well past the parents’ lifetime.
Having a long-term care plan in place provides the resources so your family members can manage your care as opposed to providing it. It also protects the people you care about most from the emotional and physical consequences that come with being a care giver.