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How to handle the financial challenges of caring for aging parents People who decide to have their retired parents live with them face big challenges, such as financial burdens and home adjustments to make the place safe for elderly, according to this article on MarketWatch. To address these challenges, clients may seek tax deductions designed for taxpayers in this situation, as well as assistance from the Medicaid Cash and Counseling program, which offers monetary help and other services to low-income seniors and disabled adults. A power of attorney can help clients in this situation, although this can be emotionally difficult to approach.  In some cases, it can help to sit down with the parent and a third-party such as the parent's primary care physician who can intervene and explain why it makes sense to let the child take over the financial matters.  --MarketWatch

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