"Where Fillmore County News Comes First"
Saturday, October 25th, 2014
Volume ∞ Issue ∞
- 8:55:22, Oct 24th 2014 - yup - I just got a bill for the 1st ave road construction $4,539.61 Omg really. I hav ... [Read More]
- 3:58:48, Oct 24th 2014 - Remember - Please remember this Wykoff voters. You may also be interested in knowing ... [Read More]
- 1:07:20, Oct 24th 2014 - Goodness1 - What do people in harmony need a community garden for? Everyone has spa ... [Read More]
- 12:52:15, Oct 24th 2014 - Michele Ekern - My only comment is that THERE WAS FLOOD WATER IN RUSHFORD SCHOOL!!! ... [Read More]
- 10:50:58, Oct 24th 2014 - SMDH - Another rambling, crazy rant from Stan. Stick to shouting conspiracies from ... [Read More]
- 7:16:15, Oct 24th 2014 - 1st ave resident - People really need to respect the law and stop blocking our drivew ... [Read More]
- 7:10:43, Oct 24th 2014 - whatever - Good luck with the gardens! The food will be stole! Maybe then they will s ... [Read More]
- 10:15:40, Oct 22nd 2014 - wow - Wow! How are we here voting on this again?! Rusfords motto after the flood was ... [Read More]
- 10:08:54, Oct 22nd 2014 - Also an RP Fan - Peterson too. Let's all combine as one city. We could learn a gr ... [Read More]
- 9:18:55, Oct 22nd 2014 - R-P fan - This referendum thing has divided the community. Let's change the subject. ... [Read More]
Fri, Mar 25th, 2011
Posted in Ask the Expert
Posted in Ask the Expert
There are many issues that come up when a child is caring for an elderly parent. The major issue is compensation and how that affects estate planning and medical assistance eligibility.
Most people don't initially want to charge their parents for giving
them care. However, the parents and all children need to discuss the reality of the cost of transportation, time off from work, and the cost of food, etc., for live-in care that the child providing the care will expend. It can be extremely helpful for everyone to have their expectations in writing through a personal care agreement.
More importantly, the reimbursement or compensation given under the agreement will not be considered a gift, preventing a tax liability for the parents and preventing a period of ineligibility for medical assistance. However, such an agreement may have tax implications for the children.
Our office can help you determine if a personal care agreement may be right for your family.
Springer & Gumbel, P.A.
141 W. Fillmore St., Preston, MN
Phone (507) 765-3600