7 Ways to Finance Your Parents’ Elder Care as They Get Older

Your parents can do this when they are relatively healthy. Once they get older and not as healthy, it will be a pain for them to travel between US and Thailand. My parents are now at the age where they hate long international flights and such flights are very uncomfortable and taxing on their health.

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Aging Americans are struggling to pay for assisted living, home care and other forms of long term care. Our mission is to solve this puzzle by providing tools, information and creative ideas which help families and caregivers discover the means to care for their elderly loved ones.

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“Many caregivers are so stressed that they do not realize how these. If you are caring for an elderly parent, consider these seven resources to help. “Make sure the older person you're assisting is getting every benefit to which they are entitled. financial situation, it may be possible to get an hourly wage for the caregiving.

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Live-in Care. If one of your parents needs dementia care, this can be difficult for the other member of the couple. The advantage of care from someone who lives with your parents 24/7 is that they will have completed a recognised Alzheimer’s care training course and have previous experience of dementia care.

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Before the need arises, you should establish an elder care plan for your parents.. How to provide care for aging parents. the form of a financial crisis, but changes in the care a parent needs. that are 65 years old or older, according to the U.S. Census Bureau. top 7 senior housing options to consider.

Transfer Assets Early. If your parents have a large nest egg, one way to get around estate taxes is for them to start giving gifts before they pass away, says Ulrich. Under current Internal Revenue Service law, your parents can give gifts of up to $26,000 each to one or more people tax-free each year.

Caring for a parent can feel overwhelming because you're not sure exactly what needs. No matter what, caring for an older adult will cost money.. You may want to consult an elder law attorney or financial planner to help you with things like.

 · Financial Exploitation: When Taking Money Amounts to Elder Abuse Those affected are robbed of more than money and shouldn’t hesitate to seek help. By Michael O. Schroeder , Staff Writer March 7, 2017

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