By now there is a relatively broadly based basic research as to burden and developmental risks in children of mentally ill parents. Nevertheless, hardly any studies exist focusing the living situation of teenagers concerned. This article presents results from an in-depth interview study with 15 adolescents (15 to 21 years old) who have a mentally ill parent. Particularly, the living situation of the study participants was explored from the perspective of developmental psychology, i. e. considering age-specific developmental tasks. The results show that, in many cases, daily life and future perspectives of adolescents are greatly affected by the mental illness of a parent. Based on the results of the study, the article presents conclusions for further research and psychosocial practice. Generally, professional assistance for children of mentally ill people should be on hand as early as possible. When planning specific help offers for adolescents affected, compatibility to their emotional life-world should be taken into consideration. Involving peer counsellors and offering web-based psychological assistance can contribute to better get in touch with adolescent clients.