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Monday
Oct122009

So Your Parent Wants to Move In With You -- Can You Afford It?

Caring.com is a valuable resource for sympathy, empathy and help, if you can navigate through the thicket of unfortunately necessary bill-paying ads. I’ll follow with another Top 10 list in my next post.

This is a very helpful article about the potential pitfalls of being a live-in caregiver. One omission did come to mind immediately, however. When calculating the decrease in caregiver income that might result from in-home caregiving, it’s important to factor in Social Security contributions and health insurance coverage that might be lost.

 

So Your Parent Wants to Move In With You — Can You Afford It?

Melanie Haiken, Caring.com senior editor

Many familes decide to have aging parents move in, then find tensions arising over time and money. Prevent meltdowns by planning ahead to share the load.

“Here are some suggestions culled from elder planning experts for how to set up a working financial arrangement with siblings before your parent or other family member makes the move.” (more)

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