For many older adults, the preferred place to spend their later years isn't an assisted living community or nursing facility.

It's home.

But successfully aging in place often requires more planning than families expect. Changes in mobility, health, medication needs, transportation, home safety, and everyday activities can gradually make independent living more difficult.

At the same time, adult children may find themselves trying to care for aging parents while raising children, working full-time, and managing their own financial responsibilities.

In this educational webinar from Hendricks Wealth & Estate Management, financial advisors Jim and Daniel Lightner are joined by Amanda Nelson of Senior Lifestyle Solutions to discuss what families should know about aging in place, in-home care, caregiver support, home safety, and planning ahead.

What Does "Aging in Place" Mean?

Aging in place means remaining in your own home as you grow older rather than moving to an assisted living community, nursing facility, or other residential care setting.

For many people, staying home offers familiarity, independence, comfort, and the ability to remain connected to their community.

But aging in place doesn't necessarily mean living completely independently.

Successful aging in place may eventually involve assistance with:

• Transportation
• Meal preparation
• Housekeeping
• Bathing and dressing
• Medication reminders
• Mobility
• Fall prevention
• Companionship
• Grocery shopping
• Medical appointments
• Overnight supervision
• Other activities of daily living

Planning for these needs before a crisis occurs can make the transition considerably easier for both older adults and their families.

Why Is Aging in Place Becoming Such an Important Issue?

America's population is getting older.

As discussed during the webinar, the U.S. senior population is projected to grow substantially over the coming decades.

That means more families will eventually face questions such as:

Can Mom continue living at home?

Does Dad need someone checking on him every day?

Who will help with doctor appointments?

How do we know when it's no longer safe for a parent to live alone?

How much does in-home care cost?

Who is going to provide that care?

These aren't simply healthcare questions.

They can also affect a family's finances, careers, retirement plans, relationships, and overall quality of life.

What Is the Sandwich Generation?

The sandwich generation generally refers to adults who are simultaneously helping care for aging parents while also supporting or raising their own children.

According to data referenced during the webinar, approximately 29% of family caregivers are part of the sandwich generation.

That can create enormous pressure.

Someone may be trying to:

• Get a child to school
• Take Mom to a doctor's appointment
• Attend work meetings
• Manage Dad's medications
• Coordinate home repairs
• Prepare dinner
• Pay household bills
• Handle a parent's finances
• Plan for their own retirement

All at the same time.

This is why developing a support system before a caregiving crisis occurs can be so important.

How Common Is Family Caregiving?

According to statistics discussed in the webinar, approximately 53 million U.S. adults are assisting relatives, spouses, friends, or neighbors.

Many of these caregivers are not professional caregivers.

They're family members.

And many continue working while providing care.

The webinar noted that:

• 53% of caregivers still work full-time
• 43% are the sole provider of care
• Many provide approximately 20 hours of care per week
• 72% report emotional stress
• 43% report difficulty sleeping
• 36% report depression

The impact can be substantial.

Caregiving may affect not only someone's schedule, but also their career, income, retirement savings, physical health, mental health, and family relationships.

How Can Caring for an Aging Parent Affect Your Finances?

Family caregiving frequently involves costs that don't immediately appear on a financial plan.

A caregiver may spend money on:

• Transportation
• Groceries
• Medical supplies
• Home modifications
• Prescription-related expenses
• Household maintenance
• Travel
• Home care
• Missed work
• Reduced work hours

In other situations, someone may leave the workforce temporarily or permanently to provide care.

That can potentially affect:

• Current income
• Employer benefits
• Retirement plan contributions
• Social Security benefits
• Career advancement
• Long-term retirement savings

For families supporting aging parents, caregiving should therefore be considered part of the broader financial-planning conversation.

How Much Does Senior Living Cost?

Costs can vary considerably depending on location, level of care, amenities, and individual needs.

In the webinar, Amanda discusses approximate Illinois costs she's seeing for several types of senior living.

She notes that assisted living can commonly cost approximately $5,000 to $7,000 per month, while independent living may cost approximately $4,000 to $6,000 per month.

Higher levels of long-term care can be considerably more expensive.

These examples are not universal pricing estimates, but they demonstrate why families should begin thinking about future care costs before those services are needed.

Does Medicare Pay for Assisted Living?

One of the most important misconceptions families should understand is that health insurance and Medicare generally do not simply pay the ongoing cost of living in an assisted living or independent living community.

There are important differences between:

• Medical care
• Skilled nursing
• Home health services
• Personal care
• Assisted living
• Independent living
• Long-term custodial care

What is covered depends on the type of service, medical circumstances, insurance coverage, and eligibility requirements.

Families shouldn't assume that Medicare or regular health insurance will pay for long-term assistance with everyday living expenses.

Is Aging in Place Less Expensive Than Assisted Living?

Sometimes—but not always.

The answer depends heavily on how much care someone needs.

An older adult who needs a caregiver for only a few hours per week may be able to remain at home relatively affordably.

Someone requiring around-the-clock supervision may face much higher home-care expenses.

That's why the decision shouldn't simply be:

"Is home care cheaper?"

A more useful question is:

"What level of care does this person actually need, and what is the most appropriate way to safely provide it?"

What Does an In-Home Caregiver Do?

Non-medical home-care caregivers may help older adults remain safely and comfortably in their homes by assisting with everyday activities.

Depending on the agency and applicable regulations, those services may include:

• Companionship
• Meal preparation
• Light housekeeping
• Transportation
• Bathing
• Showering
• Dressing
• Grooming
• Mobility assistance
• Transfers
• Medication reminders
• Trips to appointments
• Grocery shopping
• Respite for family caregivers

The exact services available can depend on the caregiver's training, agency, and state regulations.

What Is the Difference Between Home Care and Home Health?

This is an important distinction.

Home Care

Home care is generally non-medical assistance with everyday activities.

Examples may include:

• Bathing
• Dressing
• Meal preparation
• Companionship
• Transportation
• Mobility assistance
• Medication reminders

Home Health

Home health generally involves skilled medical services provided by licensed healthcare professionals.

That could include services from:

• Nurses
• Physical therapists
• Occupational therapists
• Other skilled healthcare providers

Families should understand which type of service they are hiring and whether the person's needs require non-medical assistance or skilled medical care.

Can an In-Home Caregiver Give Someone Medication?

In Illinois, the webinar explains that non-medical caregivers face limitations regarding medication management.

They may be able to provide medication reminders, but they aren't necessarily permitted to independently select medications from prescription bottles and administer them like a nurse would.

This is an important question to ask any home-care provider:

Exactly what can and can't your caregivers do regarding medication?

Families should make sure the agency understands and follows applicable state regulations.

Can Home Care Help Someone With Dementia or Parkinson's Disease?

Some home-care companies provide caregivers with additional experience or training for clients with more specialized needs.

The webinar discusses care involving:

• Parkinson's disease
• Dementia
• Alzheimer's disease
• Stroke recovery
• Palliative care
• Hospice support

These situations may require additional supervision, patience, mobility assistance, safety planning, and coordination with healthcare providers.

When interviewing a home-care agency, ask specifically about its experience with your loved one's condition.

What Should You Look for When Hiring an In-Home Caregiver?

Inviting someone into an aging parent's home requires trust.

Amanda strongly recommends making sure caregivers have been properly screened and that the agency itself follows appropriate procedures.

Questions families may want to ask include:

• Are caregivers background checked?
• What training do caregivers receive?
• How are caregiver competencies evaluated?
• Is the company insured?
• How frequently is the care plan reviewed?
• What happens if our regular caregiver is unavailable?
• Do you provide overnight care?
• Do you provide 24-hour care?
• Is there a minimum number of hours per visit?
• What is the cancellation policy?
• What services can caregivers legally provide?
• Do you have experience with dementia or Parkinson's disease?
• Can you provide references?
• Are there additional charges when both spouses need assistance?

The lowest hourly price doesn't necessarily tell you which provider is the most appropriate.

Understanding exactly what you're receiving is equally important.

Can Someone Hire a Caregiver for Just a Few Hours?

Depending on the provider, yes.

Home-care services don't always have to mean full-time care.

Families may need help only with:

• A doctor's appointment
• Grocery shopping
• A wedding or family event
• A short vacation
• Transportation
• Bathing
• Meal preparation
• A few hours of caregiver respite

Some agencies require minimum shifts, while others may provide shorter visits.

That's another important issue to clarify when comparing providers.

What Is Respite Care?

Respite care provides temporary relief for someone who regularly cares for another person.

For example, an adult child caring for an aging parent may need help while:

• Working
• Attending a child's event
• Going on vacation
• Running errands
• Attending a wedding
• Taking care of their own health
• Simply taking a break

Respite care can help family caregivers continue supporting someone they love without trying to handle every responsibility themselves.

Why Is Companionship Important for Older Adults?

Aging in place isn't only about physical safety.

Social isolation can also become a serious concern.

Some older adults have limited family nearby—or no close family at all.

The webinar discusses what are sometimes described as "senior orphans": older adults without a spouse, children, nieces, nephews, or other close family members available to help them navigate aging.

For these individuals, companionship can become an important part of in-home care.

A caregiver might:

• Visit and talk
• Play games
• Work on puzzles
• Take someone shopping
• Accompany someone to a restaurant
• Go to a doctor's appointment
• Visit a salon
• Take a walk
• Help someone participate in activities

The goal isn't simply to keep someone physically safe.

It can also be to help that person remain engaged and connected.

How Can You Make a Home Safer for an Aging Parent?

One of the biggest parts of successful aging in place is determining whether the home environment remains safe.

Small changes can sometimes make a significant difference.

Bathroom Safety

Consider:

• Grab bars
• A no-step or low-threshold shower
• Appropriate shower seating
• Non-slip surfaces
• Support poles
• Easier access to the toilet

Bathrooms can present significant fall risks because of wet surfaces and the physical movements required to use showers, tubs, and toilets.

How Can You Make a Bedroom Safer for an Older Adult?

Possible bedroom safety improvements discussed in the webinar include:

• Bed rails when appropriate
• Clear walking paths
• Removing clutter
• Appropriate nighttime lighting
• Keeping necessities within reach
• A bedside commode when needed
• Mobility assistance devices

Pay particular attention to the path between the bed and bathroom.

Falls frequently happen when someone gets out of bed at night in a dark or cluttered room.

How Should Medications Be Organized for an Aging Parent?

Medication organization deserves particular attention.

Older adults may take several medications at different times of day.

Problems can occur when pills are:

• Mixed together
• Unlabeled
• Stored loosely
• Identified only by their color or appearance
• Taken at inconsistent times

Families may want to consider organized medication systems and technology that can provide reminders or notify family members when a medication container has been accessed.

Medication questions should also be reviewed with appropriate medical professionals.

How Do You Know When an Aging Parent Needs Help at Home?

There isn't always one obvious moment.

Instead, families may begin noticing gradual changes.

Possible signs that additional help should be considered include:

• Frequent falls
• Difficulty bathing
• Trouble preparing meals
• Missed medications
• Unexplained weight loss
• Increased confusion
• Difficulty driving
• A cluttered or unsafe home
• Trouble getting dressed
• Isolation
• Missed medical appointments
• Difficulty getting in and out of bed
• Family caregivers becoming overwhelmed

The objective doesn't necessarily have to be removing someone's independence.

The right assistance may actually help someone remain independent longer.

What Happens When Someone Is Discharged From the Hospital but Can't Safely Be Alone?

Hospital discharge can happen quickly.

Families may suddenly be told that a parent is ready to go home—even though that person still needs significant assistance.

That can create a stressful scramble to arrange:

• Transportation
• Medication
• Meals
• Mobility assistance
• Supervision
• Personal care
• Follow-up appointments

This is one reason it can be helpful to research home-care providers before a hospitalization or emergency occurs.

Knowing whom to call can make a difficult situation more manageable.

Do Veterans Have Benefits That Can Help Pay for Home Care?

Some veterans may qualify for benefits that can help with certain home-care services.

During the webinar, Amanda discusses VA homemaker benefits as one possible resource for eligible veterans.

The number of approved care hours can depend on eligibility and individual needs.

Veterans and families who believe they may qualify should contact the Department of Veterans Affairs or work with an experienced resource who can help them understand the application process.

Does Long-Term Care Insurance Pay for Home Care?

Potentially.

Some long-term care insurance policies provide benefits for qualifying home-care services.

Whether benefits apply depends on:

• The individual policy
• Benefit triggers
• Waiting periods
• Required level of assistance
• Daily or monthly benefit limits
• Other policy provisions

If a parent already has long-term care insurance, don't wait until care is desperately needed to locate and review the policy.

Understanding the coverage ahead of time can help families plan.

How Can Families Prepare for Aging in Place Before a Crisis?

The best time to discuss aging is generally before someone needs significant care.

Families can begin by asking:

Where do you want to live as you get older?

Would you want someone helping you in your home?

What would happen if you could no longer drive?

Who would manage your finances if you couldn't?

Who has healthcare power of attorney?

Do you have long-term care insurance?

How would care be paid for?

Is your home physically appropriate for aging in place?

Which family members will be responsible for coordinating care?

These conversations may feel uncomfortable.

But having them during a period of relative calm is usually easier than trying to make major decisions during a hospitalization or emergency.

Aging in Place Is Also a Financial Planning Issue

It's easy to think of aging primarily as a healthcare issue.

But decisions involving care can quickly become financial decisions as well.

A comprehensive retirement plan should consider questions such as:

• How would long-term care affect retirement assets?
• Could one spouse remain financially secure if the other required significant care?
• Is long-term care insurance available?
• Should money be reserved for future care?
• Who has financial power of attorney?
• Are estate documents current?
• Could an adult child's retirement be harmed by providing unpaid care?
• Are assets positioned appropriately if care becomes necessary?

Planning for retirement shouldn't stop with determining whether you've accumulated enough money to retire.

It should also consider how your financial plan would respond if your health or independence changed.

A Simple Aging-in-Place Planning Checklist

Families considering aging in place may want to begin with five areas.

1. Home Safety

Review bathrooms, bedrooms, stairs, lighting, clutter, entrances, and fall risks.

2. Personal Care

Determine whether help is needed with bathing, dressing, meals, mobility, or other daily activities.

3. Healthcare

Review medications, medical providers, transportation, hospital discharge planning, and skilled-care needs.

4. Financial Planning

Understand potential care costs, insurance benefits, retirement assets, and who is authorized to manage finances.

5. Family Support

Determine who will coordinate care—and whether that responsibility is realistically sustainable.

The goal is not to predict every possible future event.

It's to make sure your family knows where to start when circumstances change.

Watch the Full Webinar

Want to hear the complete conversation?

In this Hendricks Wealth & Estate Management webinar, Jim Madl with Hendricks Wealth and Amanda Nelson of Senior Lifestyle Solutions discuss aging in place, caregiver challenges, home-care options, home safety, senior living costs, and practical steps families can take before care becomes an emergency.

📺 WATCH THE FULL WEBINAR

Frequently Asked Questions About Aging in Place

What is aging in place?

Aging in place means continuing to live in your own home as you grow older rather than moving to an assisted living community, nursing facility, or other residential setting. Some people aging in place remain fully independent, while others receive in-home assistance.

How do I help an elderly parent stay at home?

Start by evaluating home safety, mobility, medications, personal-care needs, meals, transportation, healthcare appointments, social interaction, and the amount of assistance family members can realistically provide. Professional in-home care may help fill gaps.

What services can an in-home caregiver provide?

Depending on state regulations and the provider, non-medical home care may include companionship, bathing, dressing, grooming, meal preparation, light housekeeping, transportation, mobility assistance, and medication reminders.

What is the difference between home care and home health?

Home care generally provides non-medical help with everyday activities. Home health generally provides skilled medical services through professionals such as nurses, physical therapists, or occupational therapists.

How do I know when my elderly parent shouldn't live alone?

Warning signs can include falls, missed medications, difficulty bathing or dressing, poor nutrition, confusion, unsafe driving, isolation, problems maintaining the home, or an increasing inability to perform everyday activities safely.

Does Medicare pay for in-home caregivers?

Medicare may cover certain qualifying home health services under specific circumstances, but it generally does not pay for ongoing custodial or personal care simply because an older adult needs help with everyday activities. Coverage depends on the type of care required.

Does Medicare pay for assisted living?

Medicare generally does not pay the ongoing room-and-board cost of assisted living. Certain qualifying medical or skilled services may be covered separately, depending on the circumstances.

How much does assisted living cost?

Costs vary significantly depending on location and level of care. In the webinar, Amanda discusses Illinois assisted-living costs commonly ranging around $5,000 to $7,000 per month based on what she is seeing in the market.

Can veterans receive help paying for home care?

Some eligible veterans may qualify for VA programs that provide homemaker or home-care assistance. Eligibility and approved hours depend on individual circumstances and applicable VA requirements.

Can long-term care insurance pay for in-home care?

Some policies can. Coverage depends entirely on the contract, benefit triggers, elimination period, covered services, and benefit limits. Families should review existing policies before care is urgently needed.

What is respite care?

Respite care is temporary care designed to give a family caregiver time away from caregiving responsibilities. It can range from a few hours to several days depending on the provider and family's needs.

What should I ask before hiring a home-care agency?

Ask about background checks, caregiver training, insurance, care-plan reviews, minimum shift requirements, rates, cancellation policies, backup caregivers, specialized care experience, medication limitations, and references.

How can I prepare financially for an aging parent?

Start by identifying potential care costs, reviewing insurance and VA benefits, understanding your parent's income and assets, updating powers of attorney and estate documents, and determining how much care family members can realistically provide without jeopardizing their own financial security.

About Hendricks Wealth & Estate Management

At Hendricks Wealth & Estate Management, we believe retirement planning includes more than investments.

As clients and their families age, financial decisions increasingly intersect with healthcare, estate planning, long-term care, family responsibilities, and the desire to remain independent.

We help individuals and families coordinate these different pieces of their financial lives so they can better understand their options and prepare for the decisions that may come next.

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Algonquin, IL 60102
847-428-3997

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941-308-9862

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