caregiving

[d_m_mcmillan]

I am the caregiver for my grandmother, with alzheimer's. She lives in our home and I have a durable power of attorney for financial and medical issues. I only work part time and want to know if I am able legally to use some of her assests to pay myself for caregiving? If she were in a home it would be much more expensive, but I would be working more. I also am resposable for my husband, who is disabled and my two young children. Is there any tax breaks I can use or any other way to make ends meet with out breaking the law?

 

[ALawyer]

I understand the enormous total burden that this creates for you and the loss of income you, or anyone else in your situation would suffer.

As you can appreciate, paying yourself, while serving as her attorney in fact, raises all sorts of conflict of interest issues.

Some state's laws prohibit an attorney-in-fact from taking out money, others allow it when (and only whan) the power says it is permissible, or when authorized by others, and others are silent on the issue.

If you have sisters and brothers, how would they react? I know they are not taking on the burden, but would they say you are being greedy? Or by taking away money from Mom you're cutting down their share? Wo would set the amount you take?

If you are the sole heir, the issue tends to go away, except for the possibility that when the money runs out, Medicaid would have to pay for a nursing home.