Helping Your Parents With Their Next Move
This guide is for adult children in their 40s and 50s: how to start the conversation, compare the options, get the right documents in place and handle the family home, whether your parents live nearby or across the country.
Get the free printable PDF with the worksheets and checklists.
Download the Helping Your Parents Guide (PDF)Signs It May Be Time to Talk
- Stairs, snow or yard work are becoming unsafe or are left undone
- Mail, bills or medications are piling up or being missed
- A recent fall, hospital stay or new diagnosis
- They are isolated, no longer driving or far from family
- A spouse has passed and the house now feels too big
How to Start the Conversation
- Start early and casually. The first talk is about what they want, not a decision.
- Lead with their goals: independence, being near grandkids, travel or less upkeep.
- Ask, do not tell. "What would make the next 10 years easier?" opens the door.
- Bring your siblings in and agree on who handles what.
Compare the Options
| Option | Best for | Things to check |
|---|---|---|
| Age in place with updates | Healthy parents in a mostly one-level home | Grab bars, walk-in shower, in-home help, snow removal |
| Downsize nearby | Parents who want less upkeep in a familiar area | One-level homes, HOA services, distance to doctors |
| Move closer to you | Parents who want more family support | One-level homes, condos and 55+ communities in your town |
| 55+ or independent living | Social, active parents | Fees, age rules, what is included |
| Assisted living or memory care | Parents who need daily help | Care levels, staffing, monthly cost, waitlists |
Documents to Gather Before a Crisis
- Durable financial power of attorney, so a trusted person can sign for your parent, including on a home sale
- Medical power of attorney and advance directive
- Will or living trust
- Beneficiary deed: Colorado allows a deed that passes the home to named beneficiaries at death without probate
- The current deed, mortgage statement, insurance policy and HOA documents
An elder law or estate attorney can explain how a sale, gift or trust affects taxes and Medicaid eligibility. We are happy to refer you to attorneys we trust.
Money and Tax Basics to Ask About
Selling during your parent's life
A parent who owned and lived in the home two of the last five years can generally exclude up to $250,000 of gain ($500,000 for a married couple). Gifting the home instead usually passes along the original tax basis and can mean a bigger tax bill later.
Inherited homes and Medicaid
Heirs usually receive a stepped-up tax basis at death. Transfers of assets within five years of applying for long-term care Medicaid can affect eligibility. Get professional advice before moving title.
Also note: Colorado's Senior Homestead Exemption stays with the home. Parents 65+ with 10 years in the home lose it when they move.
Selling Your Parents' Home
- Confirm who can sign: your parent, an agent under a durable power of attorney, a trustee, or a personal representative.
- Clear and sort: heirlooms first, then estate sale, consignment, donation and junk removal.
- Update or sell as-is: long-owned homes often sell well with cleaning, paint and small repairs.
- Price and list with a detailed market analysis and professional photos.
- Close, remotely if needed, and settle utilities and insurance.
Live out of state? We coordinate local cleaners, handymen, estate sale companies and senior move managers, and keep the family updated by video. The local Area Agency on Aging in Boulder, Larimer or Weld County can also help with in-home services and caregiver support.
Helping a Parent Through a Move?
The New Horizons Team works with families across Northern Colorado and the Denver area to sell the family home, find the right next home and coordinate the details, even when you live out of state.
Schedule a Family Consultation Call or Text 720-432-8695Updated October 2026. General information only, not legal, tax or financial advice. Rules and programs change; talk with a CPA, an elder law or estate attorney, or a lender about your situation. New Horizons Team | LoKation Real Estate.