Pamela M Hampton Former county sheriff celebrates 80th birthday Missing Adams County man is found Lady Hounds fall to Whiteoak in slugfest Calvert’s walk-off gives Hounds 9-8 win over Whiteoak Charles A Benjamin Give My Regards to Broadway Joyce Berry Joe L Easter William E Foster Margaret Belcher John M Cheatham Ronnie Simpson Under new management county hospital is thriving against all odds Historic fairground gazebo demolished One year later, still no arrests in Rhoden family murders There will be trouble in River City! Monna L Fitzgerald Jesse Carrington Janice M Sowards Rhoden family members make plea for tips in Pike Co murders of loved ones Quilting – the art that’s no longer just for Grandma Young is Adams County recipient of Franklin B. Walter All-Scholastic Award Wenstrup recognized as Community Health Advocate Ready, set, go! 25th annual Egg Hunt draws hundreds Applicants needed for Adams County Fair Queen Humane Society encourages responsible animal ownership ACCS holds annual Science Fair Peebles Elementary names March Students of the Month Pierce fires perfect game as Peebles blanks West Union Hunters preparing for 2017 Wild Turkey Season Lady Hounds fall 12-3 at Lynchburg Dragons lose early lead, drop SHAC match up with Fayetteville, 13-6 Senior Profile: Isaiah Anderson Devils roll to big SHAC win at Ripley Despite soggy night, WUHS hosts annual Invitational Meet Celebrities for a night George F Carr Jr Teresa S Hoskins Mary B McClure Richard B Collins Randall D Fetters Former Manchester officer indicted on five counts WUHS student wins state Beta Club Secretary’s seat OVCTC students part of state competition S.R. 73 closed for culvert replacement Peebles Lions Club holds first Easter Egg Hunt Weyrich graduates with honors from Pittsburgh Institute of Aeronautics North Adams Elementary releases Honor Roll for Third grading Period Scholarships available from Jefferson Alumni Olympic athlete speaks at April 6 SAAM event Venture Hawks end their basketball season with a victory at WUHS Devils baseball sweeps doubleheader from Northwest Greyhounds gain SHAC split, split twinbill with East England signs with Rio Grande golf Pierce fans 16, Lady Indians blank Eastern Brown 4-0 Maybe somebody on the river does have a plan Senior Profile: Ryan Dryden Enjoying the view Still a time for celebration Carl R Brown Lena R Staggs Adams County Crews Schedule Culvert Replacement Projects Merlan Shoemaker Dwayne E Thompson Help is on the line! West Union Elementary honors February Students of the Month WUHS hosts 2017 All-County Arts and Music Festival Ohio Brush Creek Canoe/Kayak Access Grand Opening set for April 20 Kasich cracks down on opiate-based prescriptions West Union High School students have successful trip to State Beta Convention North Adams Beta Club excels at State Convention ACRMC hosts annual Health Fair Robert H Bushman Senior Profile: Skylar Newman Nine-run inning leads Lady Hounds to run rule win over West Union WUHS foursome breaks school record First county baseball battle goes to the Greyhounds On the road, Lady Indians pick up two more SHAC victories Senior Profile: Christa Williams One more ‘shining moment’ for SHAC seniors at C103 All-Star Game Esie M Chandler Phyllis Adkins Former Manchester police deputy faces Grand Jury Indictments Cornell tosses no-hitter, Fenton goes deep, Dragons open season with 11-0 SHAC win over Whiteoak New Verizon store opening in West Union Stephen R Palmer Dual culvert replacements for SR 73 Deana P Grooms Tim Phipps Marcella Walker Alvin R Mitchum Senior Profile: Chase Darnell SHAC hoopsters shine at District 14 All-Star Game Greyhounds run rule St. Pat, 15-0 Indians drop SHAC opener West Union hosts early JH Track Meet North Adams student wins state Beta Club President’s seat Anna B Copas Charles A Nelson

Money management for the ‘Boomerang’ household

Due to recent economic realities, multi-generational living has been on the rise for many families.

A 2014 Pew Research Center analysis (http://www.pewsocialtrends.org/2014/07/17/in-post-recession-era-young-adults-drive-continuing-rise-in-multi-generational-living/) showed that a record 57 million Americans, equal to a little over 18 percent of the U.S. population, lived in multi-generational family households in 2012 – double the number in 1980. The major driver was young adults aged 25-34. According to Pew, nearly 24 percent of these older millennials lived in multi-generational households, increased from nearly 19 percent in 2007 and 11 percent in 1980.

It’s possible the “boomerang” family trend will remain in place for some time to come. For homeowner parents who may also be juggling the “sandwich” responsibilities of caring for older relatives, paying attention to the financial and behavioral details of taking in family is critical. Here are some suggestions to consider:

Your finances come first. Operating a full house means higher utility and food costs and additional wear and tear on the property. Taking in family also shouldn’t derail a parent’s career goals or retirement planning, nor should it diminish other necessary financial objectives like maximizing savings or eliminating debt. That’s why dual- or single-parent households might begin with a complete financial assessment before welcoming kids or elders back home. A discussion with qualified financial and tax advisors might be worthwhile to determine how much expense you can take on. For arrangements that go beyond free lodging to direct cash support of family members, gift tax issues should be explored.

Make a real agreement. A home is stability and therefore something of significant value. That is why it is appropriate to consider rent or request in-kind services in exchange for room and board. Young adults – particularly those who were fully under parental support in college – need to learn this important lesson even if they are moving home to save money to pay off loans, to buy a car or put a down payment on a home. Ask trusted advisors about what makes sense in your situation. If you decide to accept rent, know there are potential tax issues (http://www.irs.gov/taxtopics/tc415.html) based on the structure, timeframe and expenses related to such an agreement. Legal paperwork may be required, but there also may be rental expenses you can deduct.

Establish timelines. In the real world, financial arrangements are rarely open-ended. Depending on the financial, tax and legal advice you receive as well as local tenant law and personal preferences, you may be signing an official lease for your family member’s stay with a specific timeline of months or years. Whatever the requirements, make sure you have an effective framework that sets specific financial and behavioral rules you want met.

Start with a family meeting. Before moving trucks arrive, family members should meet for a discussion about the impending move. Start by letting your child or family member talk through why they want to move in, whether they have financial goals tied to the living arrangement and how long they plan to stay. Share the structure you envision, including the payment details you would consider. No matter how agreement is struck, it should begin with a full discussion of needs, preferences, financial terms, and most of all, ways to make the arrangement successful and smooth. Once the move happens, regular conversations should continue about the living arrangement. After all, boomerang families have unique, ongoing financial issues that will require discussion.

Prepare to track expenses. Once agreed, retrofit your household budget to keep track of higher food, utility and related expenses for cost-sharing and potential tax purposes. Having people you love living with you will hopefully have many rewards that go beyond simple dollars, but always know what the arrangement is costing you.

Bottom line: Opening your home to returning family members is a real financial commitment. Think through money, tax and household issues before you say yes.

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