Things to Know When Your Child is Also Your Caregiver
October 1, 2011
Gina M. Barry, Esq.
It is very common for a child to provide assistance to an aging parent in order to allow the parent to continue to live at home. A child is the most commonly the caregiver because the parent will not agree to hire professionals to assist with the activities of their daily life. Typically, the parent has concerns regarding privacy, and their child is the only caregiver they will trust.
When a child provides care to a parent, it is best to establish a care agreement. A care agreement is a contract in which the parent agrees to pay the child and the child agrees to provide care for the parent until either the parent passes away or is in need of nursing home level care. Tasks performed by the child may include, but are not limited to, grocery shopping, meal preparation, accounting services, driving to appointments, housecleaning and laundry services. The care is typically paid for in either a lump sum or on an ongoing basis, with a lump sum payment being less desirable. It is also common to provide payment in the form of the parent financing an addition to the child’s home in order to provide adequate space for the parent to reside with the child.
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by: Gina M. Barry
Prime
October 2011
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