We are moving our grandfather from an assisted living center to our home. What do we need to know?

You know the situation; I don't. Since you have been a caregiver before I assume you are better prepared than most to know what you are getting into.

Financially the money will no longer be going to the care center, of course. Was anything else pledged to them? Will there be a final bill of some kind? Read and understand his contract so you know what to expect on that end.

Have a care agreement drawn up stating what services you provide and what he is paying -- and/or a rental agreement for room and board. Since his entire family is on board it may not seem to matter whether you have this in writing, but if in the future Grandfather is sicker than you can deal with and needs a nursing home, in the application process for Medicaid this financial transactions for the last 5 years will be examined. It is perfectly fine and expected that he use his money for his care and room and board ... but it clearly needs to look like what it is, and not a gift to you.

I hope this really does turn out to be the best for him, and not too overwhelming for you. Remember that if conditions change your decision can change. Please do not promise him that he will "never go to a nursing home." Instead promise that you will always see that he gets the care he needs.

I don't understand why you would move him from assisted living to your home unless he is no longer able to afford the assisted living facility. There are usually long-term commitments in such places that have financial consequences. Think twice before you go forth with this plan. It may not be in anyone's best interest.

Yes, and you should consult with an Elder lawyer to be sure you don't make dumb and expensive mistakes.

Why would you want to move him? He has 24/7 care where he is, and people his own age to be with. I would advise against this if you are just looking for extra income. His pension & SS should go in to his own separate bank account and every penny will have to be accounted for. If you are to be paid to care for him, there should be a written agreement and a W2 or 1099 form each year.