A personal service or personal care contract is one way parents can employ their children for providing the daily care they currently provide out of the goodness of their hearts. Personal service contracts are also a valuable Medicaid planning tool for families faced with a long term care crisis and insufficient assets to provide for an aging parent indefinitely.
For more information on how to protect family assets from the ravages of long term care costs, check out this article or attend one of our complimentary "Truth About Estate Planning" workshops. You can find more information our website - The Law Offices of Hoyt & Bryan, LLC. . Both Randy Bryan and I are dual board certified by the Florida Bar in Wills, Trusts and Estates along with Elder Law.
Eldercare: How to hire your kids to take care of you | Reuters Wealth
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