I love a good story

Penelope doesn't have brothers or sisters, but she's not lonely because she has a vivid imagination and lots of imaginary friends to keep her company.
After living a long and full life, she goes to live with her daughter's family where she has a special bond with her granddaughter, Penny. But Penelope sometimes forgets who Penny is, and that makes Penny sad.
Penny's mom helps her understand that sometimes older folks might forget many things, but they are still family, and they are still worthy of love and acceptance.