Nursing home care comes with a price tag that can eventually become too steep. In addition, placing your loved one in a nursing home means leaving their care in someone else’s hands–and you can only hope they will get the best treatment. As a result, many adult children opt to move their elderly parents in with them to ensure they receive the care they need and avoid high nursing home costs.
While having your aging parents close by may provide some peace of mind, the transition could disrupt what was once a stable home life if you don’t prepare ahead of time.
- Senior-proof your home. You may need to rearrange or renovate your home to accommodate any special needs your elderly parents may have, such as wider doorways to accommodate a wheelchair, installing ramps or replacing doorknobs with levers.
- Work out financial arrangements. Sit down with your parents to determine what will be their financial contributions to the household. Be sure to also discuss with your siblings (if any) what contributions they can put toward your parents’ living expenses and any other expenses pertaining to their care.
- Seek help when you feel overwhelmed. While caregiving is one of the most selfless things you can do for another person, it is also one of the most challenging. When it becomes too much to handle on your own, reach out to human service agencies and caretaker support groups in your area for help.
- Research the tax ramifications of having parents live with you. You may be able to claim your parents as dependents and qualify for a tax deduction if you provide over 50 percent of their support during the year.
