ABC TV - ROLE REVERSING - CARING FOR YOUR ELDERLY PARENT
WATCH ABC TV THIS ENTIRE WEEK ON ELDER ISSUES
Here are a few of the issues discussed on Morning America today - Monday, June 25, 2007
- Invest in Dependent care or flexible spending accounts because this type of coverage will help you to provide care for your parent; i.e. an aide during the day when you are at work.
- Consider a reverse mortgage to help your parent remain in their home.
- Downsize if they have no equity in their home to qualify for a reverse mortgage.
- Never dip into your own retirement funds to help an aging parent.
- Declare your parent as an independent but first check with an accountant to make sure your are providing the care necessary to meet the requirements of the Internal Revenue Service.
- Tell your aging parent to not give out personal information on the telephone or to strangers.
- Do not be aggressive with your parent’s finances.
- Go to WWW.ABCNEWS.COM
Contact www.info@mainlineeldercare.com for more information.
MAIN LINE ELDER CARE ASSOCIATES, INC., encourages you to watch ABC NEWS this week to learn more about role reversals that today’s boomers are now facing.