FWIW, most people I've known in Seattle that didn't have family near and had a kid returned back home. They do it because they realized kids are fucking terrible without grandparent help, but that also means adult children are around to help parents when they age.
My dad's dad, who died in 1991, did this. He had both land and property in PA and VA that landed in his adult kids' lap. Honestly, it's the basis for most of the wealth my parents had when I was growing up.
Not to get political, but this is why ownership of property is a big deal in building generational wealth and why historical redlining policies remain harmful to this day.
(10-30-2020, 01:18 PM)D_Eclipse9916 Wrote: one of the main reasons is the "step up" basis for realty is an extremely easy way to avoid taxes and pass on wealth for my kids.
My dad's dad, who died in 1991, did this. He had both land and property in PA and VA that landed in his adult kids' lap. Honestly, it's the basis for most of the wealth my parents had when I was growing up.
Not to get political, but this is why ownership of property is a big deal in building generational wealth and why historical redlining policies remain harmful to this day.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth