Aging seniors who wish to downsize have the option of applying for assisted living, which provides them with a low maintenance living space and professional assistance with their Activities for Daily Living (ADLs). Assisted living can be paid for with long-term care insurance, but most of the time, it is paid for with private funds. This can come from investments, but most often comes from equity in their home. Families can obtain that equity through the sale of the home or through a reverse-mortgage.