Then onto the mentioned city-owned grocery stores, "free" mass transit, "free" child care etc etc etc.. 

Pacific Pallisades is also a poster child for this consolidation.

The only other tact I would take if I had say $5mm or more and the child was young would be an Insurance Annuity product spread over 100 years subject to death.  

Around 5 years ago the state changed the inheritance rules so that the property 13 benefit only stays with the property if the child of the deceased moves into the property (there are a couple other exceptions such as agriculture/farm that do not apply).  

If you treat it as a rental, you give up the homestead break but you gain depreciation, expense deductions, and the ability to show rental losses that might offset other income depending on your situation.Since your child is living there, many parents keep it under the homestead rules for the tax savings and simplicity, especially if the rent from friends just helps cover expenses.

One would be to give a portion of your business and a portion of your real estate to a child (through a trust) or a parent.

Unfortunately, the parents didn’t have a will, and now the adult child is concerned about what to do with the house.

Those fixed rate mortgages were 4.25% and 4.75%, both of which I'm very satisfied with.  2 others were bank foreclosures, which numbers are rising year over year; therefore more selection and a seller who MUST sell. 1 was bought at Sheriff Sale and the last one came from a property management company who had managed property, where the owner needed to cash out to pay for their child's college tuition. 

A divorce can change finances quickly (child support, legal costs, etc.).Think about your long-term flexibility.

BY HUD rules children of different genders require different bedrooms, therefore a single parent with a male and female child qualifies for a 3 bedroom unit.