whats a fair amount to charge a relative for bringing her home
Getting paid to accept care of your elderly parents: It's a hot topic among caregivers, and the opinions backside the morality of it tin can exist strong. Some people believe it's unfair to accuse rent since your parents took care of yous every bit a child, some feel guilty asking fifty-fifty if a parent insists on paying, and others feel it's perfectly acceptable to ask given the added expense of another household member—particularly when dwelling house modifications, special foods, or round-the-clock care are required.
So, what should you practise if you're i of the 40 million Americans taking intendance of an elderly parent in your home? Everyone'south state of affairs is unlike, then there is no one-size-fits-all reply. However, there are a few things to consider to help you make the correct selection for yous and your mom or dad.
Use a term other than "hire"
If you've spent even a few minutes in caregiver forums, y'all may have noticed using the term "rent" is what oft spurs debate. Instead, consider calling information technology "shared expenses," "living expenses," or something similar to avoid negative connotations.
Talk to your parent
The best thing you can do is accept an open, honest conversation with your parent to get their thoughts before they move in. Avoid coming off as confrontational by working together to create a realistic list of intendance expenses, then testify them how that fits into your current budget. Doing this exercise every bit a squad can help Mom or Dad sympathize the additional financial strain on your household—peculiarly if you're besides caring for your own children. Yous can besides compare these expenses to the costs of other options, such as nursing homes, which are oft pricier.
If your parent struggles with dementia or another condition that makes information technology impossible for them to take this conversation, speak with an elder care attorney. They can help you understand the rights of each party and give communication on how to proceed.
Sit downward with siblings
Are your brothers and sisters willing to fleck in to cover care expenses for Mom or Dad? Since people can feel strongly one way or the other about charging rent, this may exist the toughest conversation you'll have. Apply the expenses and upkeep you put together – including alternative options – then your siblings can see the math and how you lot're providing the most affordable solution. This will also assistance them run into you're not out to make a turn a profit – you just need assist roofing basic costs.
Become advice from an expert
Did y'all know that elderly parents living with children gratuitous of charge may not be eligible to receive full social security benefits or Medicaid? Government benefits such as these are adamant by a lot of factors, including income and expenses, and have strict rules. An elder care attorney or Social Security representative can help you understand eligibility requirements and may even take recommendations on how much your parent should flake in each calendar month.
Decide how much to charge
If you and your parent concur they should pay rent, talk nearly a fair toll. You lot shouldn't charge more than than what information technology would cost for them to receive professional intendance. Home care and independent living costs are the to the lowest degree expensive options for seniors and can range from $2-3k on average. That number doubles with nursing homes.
On the flip side, if you overcharge, it can hurt your parent'south chances of qualifying for Medicaid.
When it comes to nailing down a number, there are a few different ways to find a baseline to work with:
- Divide full household expenses betwixt you lot, your spouse, and your parent
- Consider reducing Mom or Dad's share of the expenses if, for instance, they don't eat much or utilise very piddling water
- Discover out how much paid caregivers in your surface area charge for the type of care your parent's needs (eastward.grand. Alzheimer's care)
- Calculate your mom or dad's current living expenses like flat hire, groceries, and utilities
- Research how much a local room rental is going for, then factor in groceries, utilities, etc.
A Place for Mom offers a helpful calculator to assistance you compare dwelling house care costs to assisted living.
In one case you hold on a price, found a routine payment schedule and outline everything in a written document yous both sign. Sure, it sounds really formal, simply it can assist protect both y'all and your parent in the long run.
Taking care of your parents as they historic period doesn't accept to exist a huge financial burden. Many parents insist on paying their ain way – peculiarly when information technology means they get to live in a comfy environment surrounded by their loved ones. Just remember to be fair, honest, and do your research.
Practice you have an opinion to share? Participate in our Twitter survey beneath!
#Caregivers: Is it okay to accuse elderly parents rent? Vote 'yes' or 'no' here! Read more: https://t.co/p8bDz5MEun
— Bay Alarm Medical (@BayAlarmMedical) June 28, 2016
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Source: https://www.bayalarmmedical.com/medical-alert-blog/charging-elderly-parents-rent-right-or-wrong/
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