Language brokering is an informal translation practice found in language contact and immigrant contexts where bilingual children and adolescents serve as translators for family members. Language brokering research has yielded mixed findings on its outcomes on emotional well‐being and academic achievement. A lesser studied area has been the examination of the long‐term cognitive and linguistic effects of language brokering experiences. Considering the pervasiveness of immigration and language contact both in the United States and around the world, this paper posits that language brokering is a multidimensional collective experience resulting from structural and familial factors (e.g., immigration and policy) that has implications for emotional, linguistic, cognitive, and sociocultural processes for the broker and the broker's family. By providing an overview of recent research on the cognitive and linguistic impact of language brokering experiences, this paper focuses on the potential lasting effects of this experience and identifies potential areas of future investigation for bilingualism researchers.