The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which went into effect in 2020, changed how beneficiaries of inherited retirement accounts must withdraw these funds. The Act’s passage made it more difficult for individuals to pass their retirement savings on to their heirs without tax liability.

Independent living communities are for healthy, active older adults. Assisted living facilities suit those who need help with activities of daily living, such as bathing, dressing, preparing meals, and medication management. Skilled nursing facilities provide care to individuals with significant medical conditions.

Yet, as people age, the type and level of care they need often change. Older adults who start in one kind of community often must move to another facility that can support their evolving needs. Relocating can be stressful, as individuals leave their friends to start over in an unfamiliar environment, often while their autonomy and access to recreation diminishes.