This is the go-to option in many cultures for reasons that do not necessarily include the financial ones. The potential benefits for both the younger and older generation are numerous, including the financial benefits. However, there are a lot of complexities to establishing a multi-generational home, particularly for those that do not come from backgrounds where they are common. There are also a number of considerations such as division of financial and other responsibilities, end-of-life and/or enhanced care planning when required as well as estate considerations, particularly when only part of the family participates in the arrangement. Still, this article from Daniel Clarke Architect, covers some of the considerations and provides much in way of "food for thought".
- RetirementGoat
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