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The Moneyist: My father is moving to a retirement community — do we sell or rent his $1.8 million home?

Dear Moneyist,

My father has been retired for 30-plus years and owns a home worth $1.8 million outright. He is 84 years old and ready to move to a retirement community to simplify his life. The home is in Sunnyvale, Calif. (where I also live and own). He plans to move to Denver, Colo. near my sister (a wonderful caretaker). He will purchase a $400K condo that he can easily pay cash for.

Our family is close. My sister and I are his only heirs and we’ve discussed his wants and needs for the future. His trust simply grants us both 50% each of all of his assets.

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