News Parent Maintenance: So much care and income are safe
Monday, 20.04.15 , written by Cora Christine Döhn At the moment, Finanztest explains how the assets of parental maintenance are composed and what allowances are left aside from the deductible. After all, if parents in need of care can no longer afford to pay for their own care, their children will be prosecuted for so-called parent’s maintenance. Many items remain untouched. >
Children have to pay for their parents’ care costs
Children are required to pay maintenance to their parents . This is the case, for example, when parents have no savings or their pension is insufficient to pay for a nursing home. Although a part of these care costs are covered by the statutory long-term care insurance. But their performance is too low to cover the complete costs. If those in need of care can not pay the remaining own contribution, the Social Welfare Office will start. Subsequently, however, the Office turns to the dependent children .
But that does not mean that they themselves have major limitations in their standard of living due to the costs incurred must take into account, a so-called protective capacity is calculated, which must not be touched by the social welfare office. In addition to this secured assets and “nest egg” and a home are usually protected. On 1 January 2015, there was also an increase in the deductible from € 1,600 to € 1,800 – this is the amount of monthly income that children are granted for their own lives.
Protect your own children from later financial burdens
Due to low pensions, many people in need of care depend on the money of their children. As the level of pension declines, there is a risk that you, too, later become a financial burden on your own children. Provide a private long-term care insurance to protect yourself and your offspring.
Update April 4, 2016: “If you want to protect your children from high payments in old age, there are private care insurance on the market. Private supplementary care insurance promise help. They should close the supply gap, “says the consumer magazine ZDF WISO in the current program on the subject of parent support.
Parent maintenance: This is how the protective capacity is calculated
If parents need to go to a nursing home or need other care that they themselves can not afford, the children will be asked to pay. Parental maintenance, however, can only be required up to a certain amount . The children are given both a protective capacity and a deductible for their own running costs, which are safe from the demands of the social welfare office.
Protected pensions are equivalent to five percent of the current annual gross income for all years in which work has been done since work began. In addition, an interest rate of four percent is calculated on a flat-rate basis for this sum. In addition, smaller savings of about 10,000 euros may not be touched. Such a ” nest egg ” for extraordinary burdens is usually granted to the children, for example, for possible complex repairs.
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Parent maintenance: guardianship and deductible when calculating outside
The parental maintenance is calculated not only from the children’s assets, but also from the current monthly income . However, the income of the dependent child can only be limited . The protected deductible amounts to at least 1,800 euros per month .
However, not everything that the breadwinner earns in addition goes to the parents’ household, but only 50 percent of the difference between the deductible and the so-called adjusted net income . “Adjusted” in this case means that previously all expenses have been deducted from income, say
- Alimony payments to own children,
- Guessing for a loan or
- Expenditure on private pensions.
In this way, the child’s standard of living should not be sustainably adversely affected by parent maintenance.
Attention spouse: Due to these concessions, many children do not have to pay anything for the care of their parents. However, it can come to a huge financial burden if children are married and both partners earn . As an example, Finanztest (issue 05/2015) mentions the following situation: With a net income of 3,000 euros, an unmarried person may not have to pay anything at all. If the spouse also earns 3,000 euros , the maintenance obligation can quickly amount to 759 euros per month .
Parents can protect their children from high costs
Even though parental maintenance is required by law, some people are critical of this obligation , especially when the relationship between parents and children is not intact. If you want to protect your children from being confronted with high care costs, you should take out private long-term care insurance at an early stage. A private insurance covers a large part of the additional care costs, which otherwise have to be borne by the own children. Children can also take out such insurance for their parents .
- Here you will find tips and more information on private nursing care insurance. >
- Cora Christine Döhn
- editorial staff