Caring For Aging Parents Support Group
Caring for aging parents can be a difficul time as we become the caretakers for our parents. This broad responsibility can encompass such services as assisted living, adult day care, long term care, nursing homes, hospice care, and in-home care. Whether you have just started caring for your parents or just need a place to talk, we're here.
Good thing too; she could have been another person who drove into a crowd of people and caused a terrible accident.
I am so happy that your mom made the move herself. That takes a TON of pressure off you.
Is there any other way for your mom to get out? Bus or taxi? Without the expense of a car she should be able to afford some cabs. I like that option because the cab company would be a level of safety getting to know mom and where she lives.
I thought the car thing was going to be a wrestle away from Mom kinda thing too. Am happy she decided on her own. However, I believe her visit to DR a couple weeks ago has something to do with it also :)
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"look back" including its Fair Market value at time of sale/gift anyway?
The gifted auto I thought could be helpful at tax time? We also have a vehicle needing repair that was Dad's. Hoping to donate this to a program that refurbishes good used vehicles. This plan I am certain is a tax deduction to charitable organization.
We are still waiting for the title in the mail (2 weeks). Have not done anything so there is time to learn more if the "gifted" plan is unwise.
I am still learning as we go here :)
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But then no matter what your tax rate is, selling it for $X is more money for you than the same donation value.
Trojan, even if we sell for a dollar wont Medicare look back and consider it an asset for its fair market value at date of sale?
Pepper, thanks for sharing your experience. This will help me with choosing where to donate. Dad's car runs. Needs a clutch is all.
Pans are a bit rusty. Otherwise, a steal. Around 40K miles, VW Fox (1990)
I have been Moms driver for some time now. She can count on this for now. Tried to bring up other transportation but she was defensive and insulted. I believe she does not trust her memory as she often gets details of our excursion incorrect. I make certain to talk about them once or twice the day after to see what she remembers. Also, it is her "getting out and about" time. We always find means to celebrate. Either Wendy's picnic in the car while people watching or an ice cream. It is just like when I was a kid. She always made time for the fun.
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My suggestion, if you are concerned, would be to start putting small amounts of money into a bank account in your name. Twenty bucks a week would be $1000 in a year. They don't look at petty cash and this would give you a safety net.
I have thought about the petty cash part. It will be better than wishing I had done this.
Smiles
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