Taxes

[TomC]

Originally Posted by Descant

I guess a lot depends on the next generation, if there is one, and what their desires and abilities are. Absent the kids being a solution, I think of two ideas that may apply.
1. Reverse mortgage
2. Sell or donate the property with a retained residency clause

Handled properly, either of these might give you a lump sum of cash and minimal overhead costs going forward.

some good ideas... only thing about a reverse mortgage is that it is only applicable to one's primary residence. Of course a regular cash-out mortgage could also extract cash from the property.