Assets in parental support – What children need to know about parental support
When parents become in need of care in old age, the costs of care often rise faster than their own pension, long-term care insurance, or savings can cover. Many families then ask themselves: "When do children have to pay?", "How much parental support is reasonable?" and "What does exempt assets mean in terms of parental support?" This magazin step by step all the important regulations relating to parental support, the role of exempt assets, the income limits according to the Relatives Relief Act, and shows which assets are protected. The aim is to provide guidance and relief for all people who are currently dealing with a care case in their family. What does parental support mean? Parental support means that adult children...