Your folks have some sort of monthly income, like they each get social security $ paid to them. Or perhaps another retirement. Or have savings.
They can use this $ to pay you to be a caregiver. BUT if they & you do this, it needs to be totally done legit.... like with a caregiver agreement and with proper taxes, FICA done. Personally I don’t think it’s a DIY, but done best by a elder law attorney. The issue would be if they don’t do this correctly AND folks care gets beyond what you can deal with AND they apply for Medicaid that $ to you can be viewed as “gifting” of assets to you and make them ineligible for Medicaid. Really you don’t want that to happen. So a personal care contract all legit solves that issue. Atty will know what $ amount is right for where you live and what your duties are.
Is your dad a Veteran? If so there is a possibility that both of you could be paid through programs that the VA has. But there are certain circumstances for your mom to get paid. There are other programs that you might qualify for to be paid. Area Agency on Aging might be the place to start. Your local Senior Center might also have resources in your area that might help as well.
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They can use this $ to pay you to be a caregiver. BUT if they & you do this, it needs to be totally done legit.... like with a caregiver agreement and with proper taxes, FICA done. Personally I don’t think it’s a DIY, but done best by a elder law attorney.
The issue would be if they don’t do this correctly AND folks care gets beyond what you can deal with AND they apply for Medicaid that $ to you can be viewed as “gifting” of assets to you and make them ineligible for Medicaid. Really you don’t want that to happen. So a personal care contract all legit solves that issue. Atty will know what $ amount is right for where you live and what your duties are.
There are other programs that you might qualify for to be paid. Area Agency on Aging might be the place to start.
Your local Senior Center might also have resources in your area that might help as well.
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