Seniors Are On the Move – By Choice

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Personal choice has affected senior moving trends and this has not slowed since COVID. If my personal experience with clients is any indicator there seem to be more seniors moving now that at any prior time in my practice.
Some time ago in an article posted by Caring Transitions, “Senior Rightsizing: Trends Among Seniors Selling Their Home” published online the author noted “as the idea of retirement is changed daily by Baby Boomers,
there is a growing group of seniors who decide they want retirement to be a time for new experiences or developing deeper bonds.”
Moving plans in many cases connect directly to legal plans. Contracts for senior communities need to be reviewed when you are planning to sell the family home and move to a senior community. Issues include not just initial cost but also whether monthly income will be sufficient to maintain the lifestyle desired. The Agreements can be complicated and provide many choices. You might pay more up front but less on a monthly basis. You might continue to pay at the same rate even if you move to another section of the community that provides more intensive care or you might need to consider the higher cost of moving into the personal care or skilled care unit later. Some very well know Continuing Care Retirement

Communities have skilled units that are Medicaid certified. It is important to know this in advance.
Moves also may involve locating financing or making difficult choices regarding titling.
I have written several times about the possibilities of parents and adult children collaborating in designing housing choices. Joint living is good for somenbut not everyone. There are several models.
With joint living arrangements sometimes parents move in with children after advancing the cost of renovations or adding additional living space. In this case there needs to be an understanding regarding responsibilities regarding
division of cost and labor. This can be described in a written family agreement.
In other situations parents may want to escape and reside in a community that handles the daily work that has become too much. All of these plans can involve legal work in the planning. Legal work can involve everything from
preparing family agreements defining the rights and responsibilities of the parties to review of titles and finances, review of estate documents to reflect parents’ wishes in a new plan and even review of detailed architectural drawings.
There are other considerations. The McMansion purchased years ago with its acres of ground might now seem too much to handle. With younger family members gone, there may not seem to be so much motivation for larger space.
Homes with high balconies and difficult to maneuver staircases present safety challenges. Communities that maintain the grounds can be attractive. Although we have not had much snow lately it can be enticing to know that the need to go out to shovel or drive the tractor or pull the weeds is gone. Some move to another
state (Florida for instance comes to mind) either because they prefer warmer weather or because friends have moved.
The distinguishing factor is personal choice. Finally, in an article by Twin Cities Habitat for Humanity more serious
issues are described. “The 4 Main Reasons Seniors Leave Their Homes Before They Really Need To,” https://www.tchabitat.org , motivations as described as
follows:
“1. Concerns about falls and accessibility issues…2. Medical needs and help with daily living…3. Isolation and Socialization and 4. Cost. If an older couple or senior enjoys the comfort of the old home they still sometimes realize that older homes can begin to become prohibitively expensive especially if the owner needs to repair and renovate. All of these factors play at part.
As seniors downsize, rightsize or relocate, many are also considering their financial plans, well-being and lifestyle in addition to family and friends and reducing the stress of maintaining a property. There is a wealth of resources out there to help in making choices and many providers to help assess, consider, move and to do the work if you actually
decide to stay at home.

About the Author Janet Colliton

Esquire, Colliton Law Associates, P.C. Janet Colliton has practiced law for over 38 years, 37 of them in Chester County, Pennsylvania, a suburb of Philadelphia. Her practice, Colliton Law Associates, PC, is limited to elder law, Medicaid, including advice, applications and appeals, and other benefits planning including Veterans benefits, life care and special needs planning, guardianships, retirement, and estate planning and administration.

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