How to Hire Your Kids to Take Care of You

Long before the phrase "sandwich generation" took hold, seniors in declining health turned to children or other relatives for essential tasks such as cleaning, grocery shopping, doing laundry or driving to doctors' appointments. Now, a growing number of families put a price on such devotion though caregiver contracts.

As the name implies, caregiver contracts outline in detail paid arrangements between a parent and child, relative or anyone else in the caregiving loop. Among other things, a formal agreement sets forth the length of time and rate of pay for caregiving services, and the tasks to be performed.