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As I clutched my first cup of coffee on Saturday morning I found the following in my email box. I've edited out identifying information and the irrelevant introductory stuff: • • • • • I am a grad student...doing
a project on the abandonment of the elderly by
their children. • • • • • Well, after another couple of cups of coffee and some electronic backing and forthing, here is how I summarized my thoughts about this pending legislation: • • • • • I have read that several
states have un-enforced legislation on the
books about children's financial obligations
to their parents, but to my knowledge no one
has vigorously pursued "abandonment" on a
broad level. I don't think laws like this are
enforceable, but I haven't researched this in
depth.
With people proposing legislation right and left, it behooves you to take particular care if you are managing your parent's money. 1. Keep Receipts. If you write a check, make a note on the check about the reason for the expenditure. If you pay cash, keep the receipt forever or as long as your parent lives, whichever comes first. Keep the checks as long as your parent is alive, too. 2. Do not "blend" your money. "Blending" your money by putting your and your parent's money in the same bank account can make it very difficult to prove what portion is rightfully yours. That can lead to all kinds of future headaches, especially if your parent ever has to apply for benefits.
Hope the implications of all this haven't completely worn you out. Stay with us for what I hope will turn into a spirited discussion!
P.S. In case you missed them, we've also recently added the following articles for you: Diabetes Caregiving: Who Should Be On Your Diabetic Care Team Your Homecare Nurse: Florence Nightingale or Typhoid Mary? The Certificate of Medical Necessity
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