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The latest census figures show that a whopping 80 million would-be empty nesters are keeping at least one grown child under their roof. Below is a list of financial considerations—continued from a December 12th story—should your child return to the nest:

Taxes. Claiming a dependency exemption on your child might ease the financial pain of playing host, though it's a bit more complicated than simply writing a number on a tax form.

"An adult is assumed to be independent, unless you can demonstrate the dependency criteria," said SanPietro. "Sometimes, that's hard."

In order to designate an adult child as a dependent, parents must pass two important tests. First, the "support test," calls for proof that the parent is providing more than 50 percent of the child's support, including rental value of the housing provided, food, clothing, transportation and medical bills.

Second, there's the "income test," wherein the child must have earned a gross income less than the designated exemption amount. The exemption amount for 2006 is $3,300.

However, like most tax-related issues, special rules apply to special situations, situations that call for other kinds of tests. The IRS expounds on these rules in their Publication 501, "Exemptions, Standard Deduction, and Filing Information."

Sundries. Apart from the officially recognized expenses stand the everyday expenses—utilities, groceries, gas, cable fees. On a day-to-day basis, these expenses don't amount to very much. But as the days turn into weeks and the weeks turn into months, they can add up.

"Utilities and groceries are big things, but parents don't always think about them because they're not metered separately," said Newton.

In addition to these phantom expenses, SanPietro said, there is also the issue of possible money being lost due to the adult child's living at home.

"Parents might be staying in a house that's larger than they need," he said. "Before their kid moved in, they were thinking of living in someplace in Florida, but now they're saying, ‘gee, we can't do that.' Some people can start to feel trapped with their older children still at home."

According to Newton—himself a would-be empty nester when his son returned home after a difficult freshman year in college—charging a monthly rent is a good idea. Not only does it ease the parents' financial burden, he said, it tempers possible self-esteem issues for the child.

"Let them live their own life, but if they've got a job, charge them rent," he said. "And what you can do with that money is pay off things like utilities, then put the rest in a savings account to give when they move out. They'll absolutely freak out when you give it to them. Plus, it ensures that you'll never see them coming home again."

Missed Part One? Click here to read.