The way families are living has changed dramatically over the past several months due to the pandemic. Most families have one or more parents working remotely and many have one or more children in school remotely part-time if not all of the time. The situation has also made it challenging to spend time with parents and grandparents who life in different households.
Before you take the leap, be aware of the various issues involved in moving in with family, especially if you’re going to share home ownership across multiple generations.
The contribution might be considered as any of the following:
1) a gif
3) an advance on the adult children’s inheritance
4) a contribution to the home purchase to share an ownership interest in the property.
We continue to invite your calls for a free phone evaluation of your estate planning wishes and concerns.
Happy Holidays and more.