• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Kulas & Crawford

Attorneys at Law

Call Now: (772) 398.0720

Attend a Free Workshop
  • Home
  • About Our Firm
    • About Our Firm
    • Meet Our Team
  • Services
    • Elder Law and Medicaid
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Financial Planning Assistance
    • IRA and Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Probate and Trust Administration
    • SECURE Act
    • Special Needs Planning
    • Veterans Benefits
  • Resources
    • Articles
    • Definitions
    • Elder Care Resources
    • Elder Law Resources
      • Elder Law Reports
      • Palm Bay Elder Law Resources
      • Vero Beach Elder Law Resources
    • Estate Plan Checkup
    • Florida Alzheimer’s Guide
    • FREE Estate Planning Worksheet
    • Free Seminars
    • Frequently Asked Questions
      • Elder Law and Medicaid
      • Estate Planning FAQ’s
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
      • LGBTQ Estate Planning Frequently Asked Questions
      • Probate
      • Trust Administration & Probate Frequently Asked Questions
      • Veteran’s Benefits
      • Wills and Trusts
    • Newsletters
    • Pre Consultation Form
    • Presentations
    • Probate Checklist
    • Probate Resources
      • Port St Lucie Probate
      • Stuart Probate
      • Vero Beach Probate
    • Published Books
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
      • Trust Administration
    • Top Estate Planning Techniques
  • Workshops
  • Reviews
    • Our Reviews
    • Review Us
  • Communities We Serve
    • Indian River County
      • Vero Beach
    • Martin County
      • Hobe Sound
      • Jensen Beach
      • Stuart
    • Okeechobee County
      • Okeechobee
    • St. Lucie County
      • Fort Pierce
      • Port St. Lucie
  • Blog
  • Contact Us
Home >> When Adult Children Live With Elderly Parents

When Adult Children Live With Elderly Parents

September 9, 2013 by Andreas Kulas Leave a Comment

In recent years it’s become increasingly common for families in Florida to live in multigenerational households. In many of these multi-generational household situations, an adult child lives with elderly parents. This can arise for any number of reasons, but often occurs because either the child or the parent is in financial difficulty, or the parents requires assistance because of suffering a health problem.

Regardless of the reasons for why adult children of elderly parents live in the parent’s home, there are several estate planning issues that parents need to be aware of. Let’s take a look at some of the common potential problems that could arise in this type of situation.

Rent

Whether an adult child pays rent to a parent while living in the home or not is up to parent to decide. However, after the parent dies and the child continues to live in the home, it will no longer be up to the parent. If the parent has not created a trust or other form of property ownership that allows the real estate to pass outside of probate, an estate executor will have to manage the property after the parent dies. It’s the executor’s responsibility to ensure the estate assets are managed appropriately, meaning that he or she will most likely charge the adult child rent if the child continues to live in the home.

Inheritance

There’s also a question about what will happen to the home after the parent dies. While the adult child might want to live in the home, especially if he or she inherited it, it isn’t always possible. If, for example, the parent had multiple children and left the home to each of them, the other children might decide that they want to sell the property. In this situation, the child living in the home would either have to purchase the property from the other children or find a new place to live.

Planning

Many of the potential problems that could arise in this situation can be avoided if the parent chooses to create an estate plan ahead of time. It’s important for the parent to feel free to make whatever choices he or she believes appropriate. For example, the parent might want to leave the home to his or her children as joint owners, or might want to sell the property and distribute the inheritance funds directly.

Regardless of the choices the parent makes, discussing these choices in advance can also be beneficial. If the children know what the parent wants in advance, they will be less likely to get into a fight about inheritance after the parents dies.

Filed Under: Elder Law, Estate Planning Tagged With: Estate Planning

Other Articles You May Find Useful

Vero Beach elder law attorney
How Can an Elder Law Attorney Help Me?
Vero Beach elder law attorney
Keeping Elderly Loved Ones Safe in the Age of Social Media
Vero Beach elder law attorney
How Can I Help My Aging Parents?
Dollarphotoclub 98616379 150x100
Tips for Caregivers
Money 141x150
Stimulus Checks and Nursing Homes
Vero Beach elder law attorney
Keeping Seniors Safe from Predators during the Holidays

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Kulas & Crawford

Download Free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

TESTIMONIALS

Easy Testimonials
August 25, 2020
    

I needed a simple, easy-to-use way to add testimonials to my website and display them. Easy Testimonials Pro did all of that and more!

avatar-1
Janet Exampleton
Owner, Exampleton Productions
Easy Testimonials
August 25, 2020
    

I receieved excellent customer support, and quickly. Thank you so much!

avatar-2
Linda Herman
Founder, Herman Studios
Easy Testimonials
August 25, 2020
    

I love your product! I would recommend this to anyone. What a great find!

avatar-3
Steve
Developer, Acme Co.
Client Review
August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

~L.G.K
Client Review
August 25, 2020
    

I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

~Joan C
Client Review
August 25, 2020
    

Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

~Mildred W
Client Review
August 25, 2020
    

I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

~Leo C
Client Review
August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

~Krissy L
Client Review
August 25, 2020
    

Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family.

~Janice M
Client Review
August 25, 2020
    

"Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family."

Janice M
Client Review
August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

Krissy L.
Client Review
August 25, 2020
    

I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

Leo C.
Client Review
August 25, 2020
    

Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

Mildred W.
Client Review
August 25, 2020
    

I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

Joan C.
Client Review
August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

L.G.K.
<
>

Follow Us

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Blog Subscription

Subscribe to our blog to get all of the latest estate planning news in the Port St. Lucie and Vero Beach Florida areas. Fill out the form below to get our updates.

PORT ST. LUCIE

East Lake Professional Center
2100 SE Hillmoor Drive, Suite 105 Port St. Lucie, FL,34952
Phone: (772) 398-0720
Fax: (772) 398-9331
  • PORT ST. LUCIE

VERO BEACH

Bridgeview Building
2770 Indian River Blvd, Suite 321, Vero Beach, FL, 32960
Phone: (772) 778-8481
Fax: (772) 398-9331
  • VERO BEACH

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM
footer-logo
  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

The information on this Florida Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Kulas & Crawford. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys


© 2023 American Academy of Estate Planning Attorneys, Inc.