One thing to remember this President’s Day Adams County Deer Harvest down over 21% MLSD amends five-year budget, prepares for future with power plant closings Lady Dragons triumph in sectional opener Lady Hounds eighth graders capture SHAC Tournament title Gary L Fetters Sr Boys Sectional brackets released ‘We’re only as good as the way we treat others’ Another round of smiles Adams County Board of DD members recognized Terry L Unger 8th Grade Lady Devils ousted in tourney semis WU’s McCarty signs with Ohio Christian Joyce A Huddleson Carolyn Spires BREAKING NEWS: Peebles police search for man accused of selling marijuana-laced sweets Decision Time BBN Senior Profile: Summer Grundy Lady Devils fall to Southeastern, 56-48 Devils outlast Manchester 47-44 in double overtime Peebles holds second Hall of Fame Ceremony Senior Profile: Patrick England Sowards hits 1,000, ties PHS three-point mark County agencies prepare for sweeping budget cuts Manchester Council votes to cut police chief’s hours Wrestling debuts in Adams County Peebles Library hosts book signing As plants power down, community must step up Raymond P Dryden Alva Palmer Billie L Shoemaker Judith Long Brent A Arn Girls basketball sectional pairings announced WU’s Weeks will continue gridiron career at next level West Union JH Boys drop pair at Ripley Eighth Grade Lady Hounds roll into SHAC semi-finals Janet A Kennedy DP&L moving ahead with plans to close power plants Outreach Center in Peebles is a hub of giving River Sweep contest winners announced Gordley hits 1,000 mark, but Indians drop crucial SHAC contest to Lynchburg Manchester lifters compete at Piketon Senior Profile: Madelyn Sanders Charles L Hurd Randy Casto Bobby Strunk Dorothy J Scott Chester A Lanter Coach David Smalley picks up 500th career win at Rio Grande Dustin Holbrook Senior Profile: Camron Gordley As usual, optimism abounds on 2017 Reds Caravan Breeze, Beasley newest members of NAHS Athletic HOF Two humble men Adams County Manor Home Health Care makes road to recovery easier Don and Venita Bowles named as Outstanding Fair Supporters ‘Tip off For Tammy’ is a huge success, joint effort by two schools Husted campaign makes stop in Peebles Benefit held for double-lung transplant recipient I loved that muddy water, building in the creek Margaret E Broughton Larry A Hanson DP&L press release confirms closing of power plants Eighth grade girls showdown lives up to hype, North Adams wins in overtime, 45-43 Senior Profile: Raeanna Stamm North Adams Football sign-ups coming soon North Adams JV girls go 11-4 with win over Peebles Harper wins MaxPreps/JJHuddle Athlete of the Week West Union duo headed to the college gridiron Lady Devils make it 11 straight with win at Peebles Adams County residents attend Trump Inauguration A Look back at our Archives Peebles native comes home to film documentary Ohio Valley Wrestling Cub hosting home match on Jan. 31 Ruth A Branscome Velma Hughes Carol L Lewis Betty L Greiner Devils top New Boston 63-53 in finale of Coach Young Classic Lady Devils rout Eastern Pike in Young Classic Indians bounce back with 67-59 win over East OHSAA Baseball Pitch Count Regulation approved for 2017 At the buzzer, Rothwell gives Dragons an overtime win Greyhounds fall to Portsmouth Lady Indians roll past West Union 80-29 From Division II to the Senior Bowl COSI On Wheels visits West Union Elementary News from the Peebles PTO NAJH Basketball hosting ‘Play For The Cure’ Jan. 28 North Adams Elementary recognizes Students and Staff Members of the Month for December Honoring a coaching legend Benefit will assist double-lung transplant patient Peebles to be featured in new documentary Cleaning the stables-the worst job on the farm Wenstrup reselected to serve on House Intelligence Committee Venture Hawks and Sheriff’s Department square off on Feb. 12 Cecil R Dupree Harper wins MaxPreps/JJHuddle Athlete of the Week Star Wars costume exhibition coming to Museum Center

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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