This paper systematically reviews the tools used to study dependence and disability in individuals older than 65 years and the predictors employed in analysing the trajectory of functional decline in this population. The search was conducted using the Scopus database and 23 out of the 734 available research abstracts were selected using ad hoc categories. The instruments and predictors were coded according to display format, domain of activity, and outcome measurement (disability or dependence). The results show limitations in the way the measures are conceptualized and selected, due to the lack of a standardized definition of the concepts and the inappropriate interpretation of test scores. Future research should explicitly distinguish dependence from disability, and correctly validate existing instruments or construct new ones using modern psychometric models.