They really do it by dying. Or, by accepting tax into their life and alienating capital gains but with a declaration.
It varies by culture. Persians I know say they used to agglomerate housing around a courtyard and as family died off, the seniors moved up in rank in the housing chain. It has its downsides, but it's not a bad model.
The boomers are starting to die. I am the tail end, I won't be amongst the last. We know it's coming, we are planning for it. There will be a transfer of wealth but it won't be glorious, and if we try to extend our end-of-life it will eat into it, which is why it pays (hah) to do an advanced health directive and be clear about what you want and expect.
Truly, the one tried and true method, is dying. Anything else is usually complicated by circumstances and taxmen. Not that dying is without complications or taxation.
It varies by culture. Persians I know say they used to agglomerate housing around a courtyard and as family died off, the seniors moved up in rank in the housing chain. It has its downsides, but it's not a bad model.
The boomers are starting to die. I am the tail end, I won't be amongst the last. We know it's coming, we are planning for it. There will be a transfer of wealth but it won't be glorious, and if we try to extend our end-of-life it will eat into it, which is why it pays (hah) to do an advanced health directive and be clear about what you want and expect.
Truly, the one tried and true method, is dying. Anything else is usually complicated by circumstances and taxmen. Not that dying is without complications or taxation.