Is there a way to use my mother's assets to compensate me as her caregiver?
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Last updated: Oct 26, 2010
Q
My mother is in a nursing home and self-paying from her assets. Approximate cost is $150 per day. She is in the advanced stages of Alzheimer's and doesn't know us anymore. She's lived in the nursing home for a year, and I just don't think she is getting enough one-on-one attention and would like to move her home to hopefully slow the rapid mental decline I have observed this year. I could care for her considerably less than $150/day but would have to quit my full time job. Would I be allowed to use a portion of her money that paid the nursing home to compensate my loss of income?
Answers
A
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Of course, a "local" CPA in your town could answer that question most accurately. Please let us know what you find out...very interesting question.