Pensions  

‘Sandwich’ generation urged to plan ahead: Saga

‘Sandwich’ generation urged to plan ahead: Saga

Clients aged between 45 and 60 should consider using wills and lasting power of attorneys to avoid family disputes, a specialist has claimed.

Emma Myers, head of wills, probate and lifetime planning for Saga Legal Services, said people between 45 and 60 had become the ‘sandwich’ generation because they were caught supporting both their children and parents, and would need tools to protect these dependants.

She said: “The sandwich generation is not only concerned for their own retirement, but for the livelihoods of their dependants as well.

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“Regardless of what is in your savings account or pension pot, there are simple steps you can take to protect yourself and your family. Wills and lasting power of attorneys are both great examples.”

According to Saga Legal Services research, just 27 per cent of people aged 45-60 think of a will as a future planning tool, and even fewer (9 per cent) believe the same for lasting power of attorney.

Without a will, an estate will be distributed according to the specific rules of intestacy, and that may mean certain dependants are excluded.