Discussing Long-Term Care With Older Adults in Your Life
When your loved one can no longer live independently, you may consider options for long-term care. It?s time to talk to your...
Read moreA recent study by Veterans United Home Loans reveals a growing trend among homebuyers in the United States. More people are seeking multigenerational homes, which are properties designed or adapted to accommodate multiple generations under one roof. This shift reflects changing family dynamics, economic pressures, and a renewed appreciation for familial support networks.
More than a quarter (28 percent) of the 900 prospective homebuyers surveyed expressed interest in homes that could support multiple generations. Affordability was a notable factor, with 28 percent of those surveyed saying extended family members can help with household costs.
Local Elder Law Attorneys in Your City
Beyond the financial component of multigenerational living is a personal aspect. About 29 percent of survey respondents said they’re planning to share their home with aging parents to provide care and support for them. Another 32 percent reported having adult children who can’t yet afford to live on their own.
According to the most recent National Association of Realtors’ Profile of Home Buyers and Sellers, about one in five homebuyers (17 percent) chose multigenerational homes in 2024 so they can care for aging relatives, accommodate adult children, or reduce costs.
U.S. Census Bureau data reflect these shifts as well. Data show that there were 6 million multigenerational households in 2020, an increase from 5.1 million 10 years prior. As of 2021, multigenerational households across the country accounted for nearly 60 million people, a number that has quadrupled since the 1970s, per the Pew Research Center.
For older adults considering joining or forming a multigenerational household, this trend offers both promising opportunities and important challenges to consider.
Several factors are fueling the resurgence of multigenerational living:
The Veterans United Home Loans survey results show that certain generations of buyers are more likely to have plans for purchasing a multigenerational home. Generation Xers are the most likely, at 36 percent. Twenty-eight percent of millennials say they are planning to buy a multigenerational home.
Meanwhile, another research report reveals that multigenerational home purchases also vary by race and ethnicity. In 2024, more than a quarter (26 percent) of those of Asian/Pacific Islander decent purchased a multigenerational home, compared with only 13 percent of White/Caucasian families.
The benefits associated with multigenerational living include the following:
Though there are many benefits of multigenerational living, there are also potential challenges to consider, such as:
Before packing boxes and renting a moving van, here are some tips to help create a smooth-functioning multigenerational household:
As the housing market continues to present challenges for many Americans, multigenerational living can offer a practical, emotionally rewarding solution for many families, particularly when approached with foresight and mutual respect. For older adults, it can mean aging in a supportive environment surrounded by loved ones, but only if the arrangement meets their needs as much as it does those of the family as a whole.
Older adults considering a move into a multigenerational home should have open conversations with family about expectations, finances, and boundaries. Do not hesitate to discuss everything from your expectations regarding daily routines and shared responsibilities to the need for privacy and long-term care considerations.
Older adults should also consult with a financial advisor and an elder law attorney to understand how such a move could affect Medicaid eligibility, disability benefits, taxes, and estate planning. An elder law attorney can play a critical role in ensuring that estate planning documents, such as wills, trusts, and powers of attorney, are reviewed and updated to reflect the new living situation and to protect the older adults’ assets and wishes. This proactive approach to communication and professional consultation will significantly increase the likelihood of a successful and harmonious multigenerational living experience.
Contact an elder law attorney near you to learn more about how multigenerational living could affect your long-term care planning and estate planning. They can discuss your unique situation and help you create the best strategy.
For additional relevant reading, check out the following articles:
When your loved one can no longer live independently, you may consider options for long-term care. It?s time to talk to your...
Read moreFor seniors with barriers getting to the grocery store and preparing food, meal delivery services can help.?Local organizatio...
Read moreThe Senate and House have cleared the passage of a year-end $1.7 trillion appropriations bill that will benefit older adults...
Read moreMany older adults can no longer safely live on their own. However, they may not need the highly specialized care of nursing h...
Read moreIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MOREIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MORELearn who qualifies for Medicare, what the program covers, all about Medicare Advantage, and how to supplement Medicare’s coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MORE