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Eldercare
Reply to "Does POA signing as Responsible Party for AL in MD mean personal financial liability?"
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[quote=Anonymous]You definitely need a lawyer because you want to know what you are agreeing to by signing and the only way to know that is to review the actual contract. Also, a lawyer can tell you how to sign - ie, whether you sign their name and then include "by _______" with your name in the blank or some other way. As far as outliving money, that's a tough one. You should probably be talking with a financial advisor to get an expectation as to how long the money will last and plan AL admission accordingly. That type of care really is for people with significant resources, not your average person. It may take budgeting to make the money stretch. And, if the money runs out, the resident will be evicted. If level of care needs increase and the resident qualifies for long term care, there is the possibility of Medicaid. But be aware of the five year look back period and what qualifies as acceptable spending. Anyway, good luck. [/quote]
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