How children can be paid for as a caregiver to their parent(s) – Part II
This is Part II of a IV part series of blogs on caregiving contracts to aging parents and children (including adult children) with disabilities.
Taking care of a parent can be a full-time job. Children may have to give up paying jobs in order to provide care to aging parents. Unfortunately, caregiving is usually unpaid work. Parents who want to compensate a child who takes on the burden of caregiving may do so in one of several ways.
Estate Plan. A parent can leave a caregiver child an additional amount in the parent’s will or trust. The problem with this method of compensation is that it can lead to conflict between siblings or other family members. If a parent chooses to go this route, it is important that the parent explain his or her reasoning to any other children or family members that might be upset. Communication between the family members can prevent problems later. In addition, to avoid any appearance of undue influence, the parent should not involve the child in drafting the estate plan.
Fredrick P. Niemann, Esq. is a qualified elder law attorney who can help determine the right method to compensate a caregiver family member. You can contact Mr. Niemann by calling (732) 863-9900 or via e-mail at fniemann@hnlawfirm.com.
Tags: caregiver agreements, Medicaid eligibility, Monmouth County NJ Medicaid attorney, Monmouth County NJ Medicaid attorney; Monmouth County N, NJ estate planning, NJ Medicaid, NJ Medicaid attorney, NJ Medicaid eligibility attorney, NJ Medicaid planning