Jan 2, 2012

Family Contract

Back in the 18th century many families lived together in one house as many as three generations all in one place.

We proceeded into the 20th. The trend became just the opposite. The younger generation wanted to strike out on their own by obtaining their own apartment or condo. Same with the older generation they generally moved into a smaller place that was more manageable and less expensive.

Now it seems like the trend is reversing again. Children who are not married in their 30s and 40s many times are moving back in with their parents. Elderly parents moving back in with their children.

If you are getting married in the near future and are planning to live with your in-laws or your own parents you might want to consider a family contract. This does not have to be a legal agreement just a signed formal statement that can be used pointing out the expectation of each party.

Here is a guide line that might help you in drawing up your statement. How long will this arrangement last? Will it be open ended or have a termination date. What areas of the home will be designated for your use for example the basement, attic, or garage? How much you will contribute financially to the household? Is smoking allowed? Are any pets allowed? Any overnight guest allowed? What are the parking arrangements for your automobile? These are just a few examples of what you might put it your family contract. By drawing up this statement you will a void stress and tension that could end up in bitter fights.

No comments:

Post a Comment

Thanks for the Comment. I will visit your blog soon.

I Disclose:

This policy is valid from 24 May 2011. This blog is a personal blog written and edited by me. For questions about this blog, please contact ADMIN in the comment section in any post. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation. The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post may not always be identified as paid or sponsored content. The owner of this blog is compensated to provide opinion on products, services, websites and various other topics. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question. It is the sole responsibility of the readers to verify the product endorsement as legitimate.