Results of “Long Term Care Partners Survey of American Parents and Adult Children” show that both older parents and adult children recognize there is a high likelihood that adult children will be tapped to help finance their parents future LTC needs.
Nearly two-thirds (64%) of parents with children over age 34 stated in the survey that they would not want to move in with their children in their later years, should they need care.
Adult children, however, arent quite so sure. Nearly half (44%) stated they felt their parents would want to move in with them if they needed care.
And an overwhelming majority (82%) of adult children between the ages of 34 and 65 are prepared to take care of their parents day-to-day needs if they could not do so themselves.