Some workaround suggestions:
If you're willing to use mods, MC Command Center will let you customize lifespan settings by clicking a computer and choosing MCCC Settings -> Set Age Span Duration. Set this to how you want it.
(MCCC will also let you flat-out murder your Sims as well, if you want.)
If you're not willing to use mods and not doing a challenge that makes you want your Sim to die on your lot, you just want household slots:
Click the edit household button, create a new household, put your elders in it. You've cleared up slots for each elder you put in a new household. Whether you give them money, a home, etc., depends on how sentimental you're feeling. You can either set them up in a nice place or just kick them out; that's up to you.
If you want more household slots RIGHT NOW DARN IT but you also want that tombstone AND don't want to straight-up murder them:
Create a new household, and with or without the free real estate cheat build them a nice retirement home with everything they need. Let them live their best lives until you get the notification that they've died, then go collect the tombstones. (I think you can even build a fence and lock them in to keep them from wandering, but haven't tried it.) You could even make this a "nursing home" if you like and put up to 8 elders in it with a butler or whatever as a "nurse." It's up to you.