Today, many older adults are rewriting that plan.
AARP reports that 75% of adults age 50 and older want to remain in their current home as they age. Pew Research found that if older adults could no longer live independently, 60% would prefer to stay home with caregiving help, compared with 18% who would choose assisted living.
But wanting to stay home and being able to safely stay home are two different things.
Aging in Place—or Aging With Family?
Option One: Age in Place
For a healthy senior who can still manage medications, meals, mobility and most daily activities, aging in place can preserve independence, familiarity and community connections.
The home may need to change, however. Grab bars, better lighting, first-floor bedrooms, wider doorways and other modifications can make a familiar home safer. AARP found that 43% of older adults expect to make accessibility changes if they remain at home.
The : About one in three adults 65 and older falls each year, and over half of those falls happen at home. Paid help adds up, too. A home health aide has a national median cost of $77,792 a year.
Option Two: Age with Family
Another growing option is multigenerational living. In 2023, 22% of adults 65 and older lived in multigenerational households, up from 17% in 1990.
Living with children and grandchildren—or in an attached apartment or backyard ADU—can offer something particularly valuable: connection. Intentional multigenerational living has been associated with less loneliness among older adults, while allowing families to share caregiving responsibilities and expenses.
One 2023 study found older adults in multigenerational homes had 23% lower odds of frequent mental distress than those living alone. That is a link, not proof. That matters because the CDC warns that social isolation and loneliness are associated with increased risks of depression, dementia, heart disease and other health problems.
TRADE OFF: Family living also has challenges: privacy, caregiver burnout, home accessibility and disagreements about money or responsibilities.
When More Support Becomes the Better Choice
There is no single “best” senior living option. The right choice changes with the person.
Consider:
- Independent and socially connected: Staying home may work very well.
- Independent but isolated: Family living or an active senior community may provide valuable daily connection.
- Needs help bathing, dressing or managing medications: In-home caregivers or assisted living may become appropriate.
- Significant dementia, wandering or complex medical needs: Memory care or skilled nursing may provide safety that a family home cannot reasonably provide.
The National Institute on Aging recommends evaluating not just what someone needs today, but what services may be required later to maintain a high quality of life.
Make the Housing Decision Part of the Elder Law Plan
Where someone lives affects far more than housing. It can determine who provides care, how that care is paid for, how quickly savings are spent and whether Medicaid may eventually become necessary.
Medicare generally does not pay for ongoing custodial long-term care, whether that care is provided at home, in assisted living or in a nursing facility. Medicaid does, but usually not until most of the financial resources are exhausted.
That is why the “how and where you want to live” conversation should happen before a crisis like a fall or stroke.
An Elder Law attorney is skilled in helping families examine housing, caregiving agreements, powers of attorney, asset protection, long-term care expenses and Medicaid pre-planning should that be needed. The goal is not simply deciding where Mom or Dad will live. This type of planning is about creating a plan that allows them to live there safely, with dignity, for as long as each pre-determined choice continues to serve them.
The best senior living plan is not necessarily the home someone chooses today. It is a plan flexible enough to both support their quality of life and change as health, independence, finances and family circumstances necessitate.
Elder Law planning of Retirement planning, in your 50s and 60s, keep the life you want to live possible while lining up the resources and directed needed to make it happen.
Attend our next Legacy Care Event at SilvasLaw.com/events or schedule a personalized appointment with Silvas Law to begin planning for the next stage of your family's Elder Law journey.