"Where Fillmore County News Comes First"
Wednesday, September 17th, 2014
Volume ∞ Issue ∞
- 11:05:24, Sep 16th 2014 - - Good and informative but wish it stated the TIME of the parade! Coming from out-o ... [Read More]
- 1:05:53, Sep 15th 2014 - KingslandGrad95 - Gussie, what's your proof that stuff like this happens at the Fillm ... [Read More]
- 10:45:10, Sep 12th 2014 - Bill Butler - The article contains the usual deniers’ slogans, but as per usual is ... [Read More]
- 9:13:55, Sep 11th 2014 - Great Aunt Linda - Great article on becoming a doctor in MN. Congrats to Morgan. ... [Read More]
- 10:07:39, Sep 10th 2014 - Gussie - Well put. If people only knew what went on at the Fillmore County Sheriff's ... [Read More]
- 10:07:20, Sep 8th 2014 - ostranderite - Mayor Nessler owns 1 of the 3 businesses in Ostrander that has a liquo ... [Read More]
- 7:37:46, Sep 6th 2014 - KingslandGrad95 - doc, was that comment really needed? Just because I said that same t ... [Read More]
- 3:39:25, Sep 6th 2014 - doc - Sounds like a young republican. ... [Read More]
- 9:54:10, Sep 6th 2014 - KingslandGrad95 - youwho, I couldn't agree with you more. There are people out there ... [Read More]
- 7:17:52, Sep 6th 2014 - youwho - Which would make him 15 on June 1st, 2014. The correct age to play 15U for t ... [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