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Posts Tagged ‘caregiver agreement’

Should You Pay a Relative to Take Care of Your Parents?

Growing numbers of families are compensating relatives who serve as caregivers. According to a report by the National Alliance for Caregiving and AARP, 43.5 million Americans looked after a friend or relative age 50 or older in 2009, 28% more than in 2004. In a survey conducted for Home Instead Senior Care, a home-care franchiser, nearly 7% of respondents said they receive compensation for providing care to a relative. Feeding this trend is the high unemployment rate, the costs of nursing-home care, and the 2006 changes in Medicaid law that affects asset protection strategies. Some 37% of caregivers surveyed by…

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Compensation to Family Caregivers.

Growing numbers of aging parents are compensating their caregiving family members. However, it is important to disclose such caregiving agreements to the entire family, to avoid potential disgruntled and unhappy siblings, and the threat of a lawsuit. According to a report by the National Alliance for Caregiving and AARP, 43.5 million Americans looked after a friend or relative age 50 or older in 2009, 28% more than in 2004. "Obviously with the economy, we have seen many seniors retain their adult children rather than pay a home care agency or another person for their care,” states David Wingate of Senior…

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