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A Gift Of Time, LLC
Senior Move Managers — Serving Milwaukee & Southeastern Wisconsin for 30 Years
agiftoftime.net · (414) 510-9695 · info@agiftoftime.net · Mon–Fri: 8:00 AM – 6:00 PM
Family Home Decision Worksheet
NASMM Certified · BBB A+ Rated · 30+ Years Experience
Sell Now
Rent It Out
Keep It
Monthly Cost of Keeping the Home
- Property taxes (monthly share of annual bill): $ ______
- Homeowners / vacant-home insurance: $ ______
- Utilities — heat, water, electric: $ ______
- Maintenance, lawn, and snow removal: $ ______
- Repairs and unexpected fixes: $ ______
- Total monthly cost of keeping the home: $ ______
Financial & Tax Factors to Review
- Capital gains exclusion eligibility (primary residence 2 of last 5 years)
- Special rules for moves into a care facility
- Whether rental income is taxable or affects benefits
- Cost basis, capital improvements, and prior records gathered
- Talked with a tax professional before deciding
Questions for the Family Conversation
- Does keeping or renting the home cover the carrying costs?
- Will rental income affect any benefits our loved one relies on?
- Can the family realistically maintain the property?
- Is there a reason to hold the home for the future?
- What does our loved one actually want to happen with the home?
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General information only — not tax or legal advice · Review your situation with a qualified professional · agiftoftime.net
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