smart spending

5 reasons to sign caregiver agreement

Retirement » Senior Living »5 Reasons To Sign A Caregiver Agreement

Define caregiving relationship
Define caregiving relationship © brankatekic - Fotolia.com

Define caregiving relationship

A 2009 Evercare survey placed the value of services family caregivers provide for "free" at an estimated $375 billion a year, almost twice as much as the amount spent on home care and nursing home services combined.

A detailed caregiver agreement makes clear the extent of the services being provided by a family caregiver and the amount of money the caregiver is getting paid, Caring.com's Matthews says.

"Everybody knows exactly what the terms are," Matthews says.

Agreeing to a personal-care contract is a good way for the caregiver and care recipient to iron out the terms of the relationship.

"The parent knows what to expect the child to do, and there's a limit," Matthews says. "It sets boundaries."

advertisement

Show Bankrate's community sharing policy
          Connect with us
Find Senior Housing Near You

Let us help you compare

  • Pictures
  • Pricing
  • Options
Zip code or City, State

Get Help Now

advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Dr Don Taylor

File and suspend is your friend

Using the file and suspend option isn't just for couples looking to earn delayed retirement credits while receiving a spousal Social Security benefit.  ... Read more

advertisement

Senior Living Adviser

Raid IRA to get into senior housing?

Dear Senior Living Adviser, I am considering moving into a Continuing Care Retirement Community, or CCRC. I am 72 and retired (except for a couple days a week as an adjunct instructor at a local college, which will end...

View more Bankrate Advisers »

Partner Center
advertisement

Connect with us