Housing Options for Seniors: Legal and Financial Considerations

• Pages: 61-64
• Date: 01 March 2025
• Published date: 01 March 2025
• Author: Kathie Brown Roberts
• Subject Matter: Derecho Público y Administrativo

Bifocal 46 Issue 4

61

Housing Options for

Seniors: Legal and

Financial Considerations

By Kathie Brown Roberts, CELA

and Bailey Liipfert, CELA

Certied Elder Law Attorneys (CELAs) specialize

in elder law, an umbrella term, which in practice

includes advanced knowledge in ve core areas

including health and personal care planning, pre-mortem

legal planning, duciary representation, legal capacity

planning, and public benets advice. CELAs also assist

older adults and their families navigate a confusing array of

senior housing decisions and governmental benets avail-

able to help pay for housing and care. From aging in place

to assisted living to continuing care retirement communi-

ties, each option presents its own set of legal considerations

and potential pitfalls.

A study by the Alliance Retirement Income Institute and

Jason Fichtner, former Chief Economist at the Social

Security Administration, highlights 2025 as the peak of

America’s Peak 65® Zone—a four-year surge (2024–2027)

of Americans turning 65, the largest in U.S. history. This

record-breaking trend will persist for 20 years until Millen-

nials reach retirement age.

Economist Robert J. Shapiro predicts that over half (52.5%)

of Baby Boomers turning 65 between 2024 and 2030 will

have $250,000 or less in assets. With many expected to live

20+ years in retirement, they risk depleting savings and

relying primarily on Social Security, which replaces about

40% of pre-retirement income.1

These trends underscore the growing need for Medicaid,

alternative long-term care funding, and legal guidance on

housing and care options:

Transition Planning: Moving an older adult into a senior

housing arrangement is a major life transition that requires

careful logistical and legal planning. The rst step is often

a thorough review of the senior’s current housing situation

and any outstanding obligations, such as a lease that needs

to be terminated or a home that must be sold.

An assessment of the senior’s physical and cognitive capac-

ity is also important to determine the appropriate level of

care and to ensure that they have the legal capacity to enter

1 https://www.protectedincome.org/peak65-economic-im-

pact-forum/