Monday, January 15, 2007

Caregiving Contracts Valuable Tool Between Family Members

Category: Elder Law

From - Put Caregiving Arrangements in Writing, Lawyers Advise. The article emphasizes some valuable points about the need for a Caregiving Contract.

"A formal caregiver contract can outline the responsibilities of a caregiver, and specify the payment he will receive for services rendered and expenses, the article states. A contract ensures that the cost of care is paid at the time it is received and is not left for family members to wrangle over as part of a later division of assets."

Importantly, in the New Jersey, without a Caregiving Contract in place, payments to the family member caregiver from the senior family member can be deemed a transfer/gift from the senior family member to the family member caregiver, and disqualify the senior family member from Medicaid.

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At 1/18/2007 11:28 PM, Anonymous Anonymous said...

If the family caregiver has the a power of attorney, what are the rules that cover the $11000 per person per year legal gifts allowed by IRS when applying to medicaid?


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