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Eldercare
Reply to "Would you charge your parents rent to live in in-law suite?"
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[quote=Anonymous]No, I wouldn't. But that's because I would be able to afford it. I can think of many reasons why perhaps it could be helpful or a good idea to have them contribute in some way (many already covered here): - transfer their wealth in a non-taxed way - allow them to feel like they're not just free-loading, preserve their sense of autonomy and adult functionality - put that money into a reserve fund for emergencies they may face - allow siblings to contribute something of value that recognizes what you're doing for your parents in ways they can't/aren't - allow you (person providing room/board/care) to feel appreciated - even if you don't need the money it is still important to feel like you're being appreciated - And, if money is tight - then use their money to cover their living expenses, just as they would be using that money to pay for rent/food/etc...[/quote]
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