Caregiver agreements can be like a family-based insurance plan – creatively ensuring that elderly family members receive the loving care they deserve.

Your frail mother is still beloved but she’s 92 and requires home care. Caring for her is a labor of love, but difficult work; even when she smiles. Besides the tedious and unrelenting requirements involved, the “job” of caring for her can be a severe financial strain on the child. Studies have shown that a child serving in the capacity of primary caregiver can lose 75% of potential earnings during every year that the”job” of caring for their parent continues.

What if there existed a creative solution to your elder care dilemma? Caregiver agreements – formal contracts under which relatives are hired to care for elderly family members have been around for decades, but with the current economic downturn, an increasing number of families are choosing this option. This is good news, because caregiver agreements come with a number of benefits, not the least of which is that money given to a son or daughter under a caregiver agreement is not considered by the government to be “a gift” when an elderly person is attempting to qualify for Medi-Cal, Medicaid, or other public benefits. Another plus is psychological: to an aging parent, the idea of being cared for by a trusted family member may be especially meaningful. The contracted arrangements may also ease tensions and resentment among siblings, if for example, one child is rendering the lion’s share of the care.

The caregiver agreement must be in writing and it should be carefully crafted, preferably by an attorney specializing in Elder Law. There are also tax consequences. These agreements are legal contracts; should include details such as the cost of services with each service itemized; and the duties that the caregiver will be performing, spelled out in clear language. Authorizations for medical or financial decision-making should also be clearly described, especially if making medical and physical decisions will be part of the caregiving duties, those powers should be separately set forth in Durable Powers of Attorney for finances and Advance Health Care Directives for medical issues. Perhaps most crucially, the caregiver contract must be executed before the caregiver receives any compensation. If this final stipulation is ignored, a caregiver agreement could lead to a crisis instead of a solution.

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Gene Osofsky is an East Bay elder law attorney in California. Gene Osofsky specializes in Medi-Cal planning, wills, probate, trusts, nursing home issues, special needs planning, and disability planning. To learn more about elder law and The Law Offices of Osofsky & Osofsky, visit Lawyerforseniors.com.

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Owning a franchising business can offer you brand awareness, trustworthiness and consistency that can take years to build up for any new business. It can be one of the easiest and most successful methods of entering the business world, however don’t think of it as an easy ride. A franchise takes a lot of hard work and dedication to make it a success and you have to find the right kind of franchise opportunity for you.

Many new businesses fail in the first few years due to a lack of commitment, dedication or knowledge, this figure is much lower for franchises with over 90% of them showing a profit within the first 3 years. The difference with a franchise business is that most of the problems have already been ironed out. Franchises are tried and tested by many others before you and have developed a system that, if you follow it to the letter, should be successful.

Risks normally associated with starting a new business are not as great with a franchise as it is already established and the business plan approved. Getting the right mix of marketing techniques, pricing strategies and a quality product or service are the main problem areas for any new business; as you are buying into a franchise all these have already undergone rigorous testing and the resulting system is achievable.

There are hundreds of different types of franchise opportunities, from advertising and computers to fitness, restaurants and home based franchises, choosing one that will suit you depends on your lifestyle and the areas you are interested in. New franchises offering excellent potential for growth are either a senior care franchise or senior assisted living services.

Nearly every country is experiencing a rapidly ageing population who are living longer due to better health care, and the baby boomer generation reaching retirement age in the next decade. It is forecast that the older generation will double over the next 25 years and a market is opening up for professionals to care for them. This has created a market for products and services specifically for the elderly.

The majority of people who would be interested in running a senior care or assisted living franchise are generally in that line of work already, nurses, health care workers or care assistants. It isn’t necessary to have a medical background or previous experience in the care field as long as you manage the facility by employing trained and qualified staff, a legal requirement when working with vulnerable people.

The health care sector is set to take over as one of the largest workforces over the next few decades and senior care franchises are seen as an emerging business opportunity that will grow with it. The advantage of these kinds of franchises is that the initial investment is modest when compared to other commercial franchises and is not subject to economic fluctuations. There is a lot of support offered by professionals to help you build your business, making this one of the best franchise opportunities available today.

The rewards you get from this kind of work are unlike any other kind of franchise, both personally and professionally. Professionally you will be managing your own business, but personally you will be making a difference in people’s lives. If you are interested in senior care franchise opportunities and home health care then carry out some research online and request information about senior care franchises and senior assisted living services before deciding on which business is right for you.

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Michiel Van Kets provides article services for Ray Haiber, a professional Arizona business broker and franchise consultant with over 10 years of experience providing franchise opportunities throughout the USA. For further information on internet, restaurants and home based franchises for sale visit the website.

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Not only is such planning “ethical,” in many cases it may be essential. It might even be considered a form of tax planning for the middle class.

While longevity is increasing for both men and women, people are suffering from more debilitating diseases, and requiring more long-term care than ever before.

The cost of that care promises only to increase; and, were it not for the Medicaid Program (called Medi-Cal in California) created by Congress, many Americans would be without the means to pay for that care or would risk financial ruin. Seniors and their families deserve to live and age with dignity. They should not have to choose between securing necessary care and financial ruin. Indeed, providing a payment source for seniors and the disabled to cover long-term care expenses was a social policy decision made by Congress years ago.

Avoiding impoverishment by taking steps to qualify for an available long-term care subsidy may require planning and the services of an Elder Law Attorney.

Is this ethical? Think of it this way: The wealthy plan their affairs and design their business strategies to minimize their tax burden. They may hire a team of expert financial advisers, accountants and attorneys to assist them in their efforts. Their success is applauded and the creative efforts of their “team” members are often highly compensated. When logic is applied, what is so different about the middle class planning their own affairs in a similar fashion, in pursuit of benefits to which they are entitled? Except for an inherent class bias favoring the wealthy, the answer is nothing. The impact upon the public treasury — whether the planning involves tax avoidance, or securing a Medi-Cal subsidy — is precisely the same. Such middle class “tax planning” is not only ethical, it is becoming absolutely essential.

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Gene Osofsky is an East Bay elder law attorney in California. Gene Osofsky specializes in Medi-Cal planning, wills, probate, trusts, nursing home issues, special needs planning, and disability planning. To learn more about elder law and The Law Offices of Osofsky & Osofsky, visit Lawyerforseniors.com.

Source: http://www.articletrader.com

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