Anonymous wrote:Do you have siblings? I would ask them to help pay for you parking and for the food instead of taking it out of your father’s account. No, it wouldn’t sit right with me to be paid for the time. They can pay for your parking and for the food since you are giving your time.
Anonymous wrote:I think it is reasonable, OP, but you may get into trouble with Medicaid down the line unless you have a formal agreement with your dad to be reimbursed.
I think it is less questionable to hire someone else to do these caregiving tasks.
Anonymous wrote:Anonymous wrote:People on this forum are very weird about reimbursement for valuable work performed. I served as financial power of attorney for an elderly non-parent relative and paid myself $500 a month to manage her bills/finances, coordinate her assisted living care, file her taxes, and manage her investments. I am quite sure people would be horrified on this forum. I was ripped to shreds by these dcum folks upon suggesting that I should compensate myself for managing the disbursement of her trust to 24 beneficiaries upon her death. I am ignoring their advice. My recommendation for you is to chat with your siblings about what you think is a fair plan. I suspect if they are rational people can all agree to something, at the very least reimbursement for the parking and food.
You are a good daughter. He is lucky to have you.
I control my 85yo mom’s finances and pay all her bills. I do her taxes, manage her investments, and coordinate with her assisted living. I have done so for 9 years. I don’t pay myself anything for this, even though it involves time and effort. I do it to take care of her because she took care of me when I was a child.
Anonymous wrote:Anonymous wrote:People on this forum are very weird about reimbursement for valuable work performed. I served as financial power of attorney for an elderly non-parent relative and paid myself $500 a month to manage her bills/finances, coordinate her assisted living care, file her taxes, and manage her investments. I am quite sure people would be horrified on this forum. I was ripped to shreds by these dcum folks upon suggesting that I should compensate myself for managing the disbursement of her trust to 24 beneficiaries upon her death. I am ignoring their advice. My recommendation for you is to chat with your siblings about what you think is a fair plan. I suspect if they are rational people can all agree to something, at the very least reimbursement for the parking and food.
You are a good daughter. He is lucky to have you.
I control my 85yo mom’s finances and pay all her bills. I do her taxes, manage her investments, and coordinate with her assisted living. I have done so for 9 years. I don’t pay myself anything for this, even though it involves time and effort. I do it to take care of her because she took care of me when I was a child.
Anonymous wrote:Anonymous wrote:People on this forum are very weird about reimbursement for valuable work performed. I served as financial power of attorney for an elderly non-parent relative and paid myself $500 a month to manage her bills/finances, coordinate her assisted living care, file her taxes, and manage her investments. I am quite sure people would be horrified on this forum. I was ripped to shreds by these dcum folks upon suggesting that I should compensate myself for managing the disbursement of her trust to 24 beneficiaries upon her death. I am ignoring their advice. My recommendation for you is to chat with your siblings about what you think is a fair plan. I suspect if they are rational people can all agree to something, at the very least reimbursement for the parking and food.
You are a good daughter. He is lucky to have you.
I control my 85yo mom’s finances and pay all her bills. I do her taxes, manage her investments, and coordinate with her assisted living. I have done so for 9 years. I don’t pay myself anything for this, even though it involves time and effort. I do it to take care of her because she took care of me when I was a child.
Anonymous wrote:People on this forum are very weird about reimbursement for valuable work performed. I served as financial power of attorney for an elderly non-parent relative and paid myself $500 a month to manage her bills/finances, coordinate her assisted living care, file her taxes, and manage her investments. I am quite sure people would be horrified on this forum. I was ripped to shreds by these dcum folks upon suggesting that I should compensate myself for managing the disbursement of her trust to 24 beneficiaries upon her death. I am ignoring their advice. My recommendation for you is to chat with your siblings about what you think is a fair plan. I suspect if they are rational people can all agree to something, at the very least reimbursement for the parking and food.
You are a good daughter. He is lucky to have you.