smart spending

5 reasons to sign caregiver agreement

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

Keep peace among family members
Keep peace among family members © michaeljung - Fotolia.com

Keep peace among family members

Having a caregiver agreement in place helps minimize battles among siblings and family members over the handling of an ailing loved one.

"It's a way of alleviating some, but not all, of the conflict among family members about who is doing the caregiving," Matthews says.

Often, an adult child who lives near a parent takes on the role of caregiver.

Other siblings and family members will be able to view the personal-care contract and understand the extent of caregiving being provided as well as the amount being paid by the care recipient.

"The existence of the contract helps elevate the validity of the arrangement," says Howard S. Krooks, a partner at Elder Law Associates PA in Boca Raton, Florida, and Of Counsel to Amoruso & Amoruso LLP in Westchester County, New York. "Anybody looking at it will see you did all those things, and that's exactly what Mom and Dad wanted."

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

Jean Chatzky

Jean Chatzky: End-of-life planning tips

What happens if something happens to you? You've done your job only if you've put a protection plan in place.  ... Read more

advertisement

Senior Living Adviser

Where can I find Mom's IRA CDs?

Dear Senior Living Adviser, We found two IRA CDs from 1990 and 1992 in our mother's safe deposit box after she passed last year. The bank where the CDs were drawn has merged twice since that time. The bank has no record...

View more Bankrate Advisers »

Partner Center
advertisement

Connect with us