What is a Caregiver Contract?

A caregiver cotract is angreement between an aging parent and child, a relative or anyone else that sets forth the length of time and rate of pay for caregiving services, and the tasks to be performed. However, most children don’t want to be paid for services provided to their parents. But, the children are providing a valuable service, and may be suffering a financial loss by taking time away from a job to do so, or other activities. Also, by spending down assets to pay for caregiving, aging parents can utilize this asset protection tool to qualify for Medicaid if…

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