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If an elder parent has given you 50000 and shortly thereafter they end up in a nursing care facility are you as the child responsible to give back that money to pay for the nursing care cost?
Wiki User
∙ 14y ago
Hi, The question is: "If an elder parent has given you 50,000 and shortly thereafter they end up in a nursing care facility, are you as the child responsible to give back that money to pay for the nursing care cost? My answer would be: First, add your totals for remodeling your house to make it safe for your parent(s). Second, add the amount of time he/she spent in your house (e.g. If he/she spent 6 months in your house, take a total for room/board (times-x) 6. Plus, if you stayed at home to take care of him/her--take that amount x 6. Also, you would have to pay self-employment tax (SE tax). It is wise to consult an attorney first. ...but if there is any remaining money, it should go back to the elderly parent. lach61
Wiki User
∙ 14y ago
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