Providing primary care for an aging family member is admirable and extremely difficult to manage if the caregiver does not have the proper support and resources.
It is estimated that 48 million Americans care for an adult family member or friend and spend approximately 24 hours per week providing that care. Unfortunately, many were put in the position of being a caregiver without much warning or time to prepare.
Not only are caregivers spending their time providing the necessary care for a loved one, but it has also been found they are incurring out-of-pocket expenses to help the person they are caring for.
AARP estimates that 78 percent of caregivers spend an average of $7,200 annually. This figure does not include the unpaid leave a caregiver may have taken from their career to step into this role or their inability to save for their own retirement.
Many families are unaware of options and ways to be compensated, even when caring for a family or friend. The chances of being paid are best if the person you care for is a Veteran or Medicaid-eligible, but other options exist.
If you or someone you know are caring for a loved one, an experienced Elder Law attorney can review your case and make recommendations on the options available for compensating a family caregiver.
It is a complex situation with potential tax implications and other effects on the care receiver’s future eligibility for services. However, our office can assist you with covering all these issues and giving you peace of mind.
We specialize in educating and helping you protect what you have for the people you love the most. Contact us to learn more about how we can help.