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2. Your Family Should Be Part of the Decision

If it's just your name on the deed, you may think your decision to take out a reverse mortgage doesn't affect anyone else. However, the choice can affect your whole family. After all, if you're like most people, the bulk of your assets are tied up in your home. Talk to your spouse and kids about how taking out a reverse mortgage might affect their inheritances. They may have feelings about the family home that you're not aware of, and you don't want to ambush them with a decision they're not part of.

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