![]() ![]() ![]() Because in most cases, the best way how to deal with aging parents with no money is also the most common – direct family assistance. My elderly parents are broke - what can I do about it? If you’ve found yourself asking those kinds of questions, and you’ve examined state and federal programs, then the family is the next line of defense. Keep in mind, it’s worth investigating these programs before making contributions directly to your parents, to ensure any financial assistance you can provide won’t interfere with their eligibility for need-based programs.Īging Parents with No Money – Good Options Another good place to check is your regional Area Agency on Aging, where you might find assistance can come in the form of home care, food delivery, check-ins, transportation, or another essential service. You can also find a wealth of both state and county programs aimed specifically at assisting the elderly, including everything from housing assistance to supplemental income. That’s because the former covers many medical costs for people over 65, while the latter provides coverage for people with low income.īut those are only the beginning. The most basic place to begin is with Medicare and Medicaid. To get started, it’s a good idea to research government programs that might be able to help. But a good starting point is being aware of all your options. What to do With Aging Parents Who Have No Moneyįiguring out what to do when an elderly parent runs out of money can be tough. But taking initiative can help everyone to avoid worst-case scenarios, and ensure your loved ones are well cared for in the future. And it can be stressful to figure out how to handle these kinds of situations, especially if you have to determine what to do when an elderly parent runs out of money. For almost anyone with aging parents, it’s natural to have concerns over their financial future. ![]()
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