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

Photo of author, David Nolan.
David Nolan
Senior Investment Strategist

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.

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