Skip to main content

McKinley Carter Named One of America's Best Workplaces!

I Stock 538176790

Adult Children Could be on Hook for Parents' Nursing Home Bills

Photo of author, David Nolan.
David Nolan
Chief Investment Officer

As the Baby Boomers continue to move past retirement and into needing long-term health care, many families struggle to pay for it, much less understand what their personal risks are. If your state has a certain set of laws, the burden may be great for the children of Baby Boomers.

In total, 29 states have laws that can make adult children financially responsible for their parents’ necessities of life when the parents do not have the means to pay for such necessities on their own. These laws are referred to as "filial responsibility" laws and can be used by nursing homes and other long-term care facilities as a means to seek reimbursement for unpaid bills.

The extent of this responsibility may vary, but one thing is for sure: all three of McKinley Carter’s states of operation (WV, PA, MD) carry these laws. The good news is that the laws are only enforced sporadically. But the risk is sometimes great, depending on the case. The following article from Forbes details the risk as well as a few case studies.

http://www.forbes.com/sites/northwesternmutual/2014/02/03/who-will-pay-for-moms-or-dads-nursing-home-bill-filial-support-laws-and-long-term-care/#7b3b4f335620

The advisors at McKinley Carter Wealth Services are available to be a source of help. Please call us today for more information at 866.306.2400.

Related Insights
JAB Blog SS Fairness Banner image

Social Security Fairness Act: More Money Today, But What About Tomorrow?

The Social Security Fairness Act was signed into law in January 2025. It repealed the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which had previously reduced Social Security benefits for public sector workers receiving pensions from non-Social Security-covered employment. Beginning in April 2025, public servants (teachers, firefighters, police officers) will begin seeing an increase in their monthly benefit payments. Learn more about the possible tax implications of the Social Security Fairness Act.

Read More
Crypto Blog 2 Image AMH 800px

A Simple Guide to Buying, Storing, Protecting Your Cryptocurrency

Whether you’re excited about diving into Bitcoin or exploring the vast range of altcoins, understanding the essentials of buying, storing, and protecting your digital assets is crucial. Here we break down the steps to safely purchase your first cryptocurrency, explore the different options for securely storing it, and provide you with practical tips on how to keep your crypto safe from theft or loss.

Read More
CJB Blog 2025 Kickoff Banner

5 Steps to Kick Off 2025 with Success

As we say goodbye to 2024 and welcome 2025, it’s the perfect time to reflect on where we’ve been and set the stage for where we want to go. The beginning of the year is all about starting strong. This is your chance to set priorities, take decisive action, and create momentum for the months ahead. Here are five actions we recommend to help you start 2025 with clarity, confidence, and purpose.

Read More
Play