All siblings willing to care for father-can no longer live alone. Can we all share responsibility and charge dad in personal care agreement?

drs920113, your father is lucky to have five children who are willing and able to share the caregiving duties he now requires. As previously suggested, a detailed and formal personal caregiver agreement is necessary to prevent misunderstandings and to stay within Medicaid rules, if the need for that financial assistance is in your dad's future. Information and a template for such an agreement is available at https://www.agingcare.com/articles/personal-care-agreements-compensate-family-caregivers-181562.htm

     One additional thought regarding IRS income reporting requirements and taxes, if there is no chance that financial assistance from Medicaid will be ever be needed, and if you and your four siblings really are able to amiably share providing everything your dad needs, he could simply gift up to $15,000 each year to every person without reporting the gifts or paying a gift tax and without anyone having to report the gifts as income or paying taxes on it.  Such gifts would almost certainly disqualify him from future Medicaid assistance up to the amount of the gifts, so be careful.

  Good luck and kudos to you and your siblings -- your parents apparently did their jobs well.

You wouldn’t necessarily need to pay taxes. You have to report all income to the IRS but that doesn’t mean you have to pay taxes on that income.

You would need a legal contract drawn by a lawyer; you would all need to pay taxes on these "wages" agreed to by your father, and your father would need to be capable of making this contract.
It will be difficult to get together with 5 siblings; sometimes these things begin with the best of intentions and go wonky when say one hubby gets a bad back and another couple has to move out of town for a job, and etc. So take great care you are all on the same page and that everything is legally done.