In this Elder Law Minute, Crystal Post explains how a written caregiver agreement can protect families during Medicaid planning and caregiving.
Hi, I’m Crystal Post. I’m the new junior associate at Dent Coulson Elder Law. I’m really hoping that these Elder Law Minutes provide some insight and understanding to complex issues that everyday people face in the estate planning journey.
I’m going to briefly talk about why it could be beneficial to have a written caregiver agreement if you are an adult child providing care for an elderly parent. So, from a legal perspective, this is a valuable tool that is used for Medicaid pre-planning. And in situations like this, um, a lot of times a parent will give their child just cash here or there for, you know, assisting with their care. And this can potentially penalize them if the parent goes to apply for Medicaid because it looks like they’re just gifting away money.
If you memorialize the agreement into a written contract, this will clarify the caregiving responsibility and legitimize any compensation and hopefully prevent those Medicaid penalties. It’s also helpful for tax purposes and medical documentation. Lots of other benefits too that we are happy to tell you all about. Uh, so give us a call.
“Your Trusted Advisor on the Elder Care Journey”
Dent Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older.
Dent Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older.
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“Your Trusted Advisor on the Elder Care Journey”
Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (618) 632-7000 (IL) or (314) 567-9292 (MO), or Contact Us and we will get in touch as soon as possible.
