As lifespans grow, the prospect of a parent and child both being of retirement age is increasing for many families. As a result, some have taken a unique route to care for their parents, moving into the same retirement community. This allow the child to able to care for a parent and focus on the necessities of old age without having to worry about maintaining a household in the same manner as living independently. Those that have taken this path speak of the closeness it brings by being down the hall from their parent but also the relief of knowing that support is at hand for all manner of issues ranging from food to transportation. However, these benefits come at a cost, many facilities cost $5,000 or more per unit a month plus sometime steep buy-ins to a community that might not always result in a refund on the death or moving out of the resident. While this solution to caring for an aging parent might not appeal to many, it is nonetheless an option that is growing in popularity for those willing and capable of making the change.
See, Paula Span, A Twist on Caring for a Parent: Move Into the Home, The New York Times, January 4, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
