hello, I am a 48 year old male (unmarried), unemployed, and have been caring for my 91 year old mother since my father died. Are there any financial programs to help me and paying for care? My Mother receives survivor benefit from my father who served 30 years in USN. He died on july 17 2002.
hope not too much info, thanks.
clay
Mom may qualify for VA Aid and Attendance in addition to Dad's USN retirement. That would bring another $1,057 per month into the household.
I would also urge you to look in to any Medicaid long-term care diversion programs in your state that may assist with care in the home.
Make sure that you have a proper durable power of attorney, advance directives, and testamentary documents (will, trust, etc.) so you can handle all of mom's affairs.
Lastly, once a durable power of attorney is in place take your name off of all of her accounts! Joint accounts create more problems than they solve if and when you apply for public benefits. The power of attorney once filed with financial institutions will permit you to transact her accounts.
I was thinking it would be easier for incidental purchases if my name was on her account - so I could pay for groceries etc with her money.
Is it better to pay those kinds of thing out of pocket and then have her reimburse me?