Founder, Michael Hackard, Showcased in AARP Article

As the founder of Hackard Law, Michael Hackard knows the potential risks involved in house-sharing among older adults and seniors, especially the legal and financial challenges that can arise when arrangements go south.

In a recent feature on AARP, our founder, Michael Hackard, shared his thoughts on the growing popularity of house-sharing for retirees interested in financial stability and social connection.

What is House-Sharing?

House-sharing is an option that may provide retirees with another source of income while letting them remain independent. It also yields other advantages, such as companionship, assistance with household responsibilities, and even acting as a safety net in the event of emergencies.

Michael Hackard’s Thoughts on House-Sharing

In the article, Hackard shared, “Even if you mainly do it for the money, remember that house-sharing means just that—you are sharing your home. When it goes wrong, it is really messy.” Hackard Law recognizes the importance of financial security and planning, especially for seniors facing life-altering changes.

With extensive experience in elder financial abuse cases, Hackard has advocated for and represented seniors in serious disputes over poorly structured house-sharing agreements.

Vetting potential tenants requires a strategic approach. Older homeowners should take proactive steps like conducting background checks, verifying employment and income, and getting detailed references. A thoroughly written rental agreement can outline expectations to tenants and ensure their rights and assets are secure while home-sharing.

Call Hackard Law Today for Legal Assistance With House-Sharing and Rental Agreements

Hackard Law helps clients navigate the legal challenges of house-sharing, advising on rental agreements, property rights, and even elder law protections. Being proactive with due diligence allows retirees to enjoy the financial and social benefits while minimizing the risk involved. Call our law office at 916-313-3030 for more information.