You do not need to migrate to photos if you do not want to, at least, if you have a compatible Iphto version.
If you have iPhoto 9.6.1 installed,just launch iPhoto and continue working with iPhoto. If you have an earlier version of iPhoto 9. try to update from the updates tab of the AppStore. Updating does not work well right now, the update is not always available, but try it, till you are lucky.
Photos is the new main Photos.app, but iPhoto 9.6.1 works well with Yosemite and you vcan still use it. Only, apple will no longer develop it further and not sell it any longer.
My question is, should I import my IPhotos Library to Photos? If so, I will then have two big photos libraries with over 15,000 photos each. So do I then delete the iPhoto Library? I am surprised Apple did not give a little more direction on this.
If you decide to migrate your iPhoto Library, Photos will create a migrated version. Your iPhoto Library will be renamed to "migrated...", but you can still use it. Both libraries will have about the same size, but will not require additional storage for the second library, since the photos library will use links to the original library, the media files will be shared.
See: Photos saves disk space by sharing images with your iPhoto or Aperture libraries - Apple Support
So you do not need to delete the iPhoto Library- keep i, until you know, which version you want to use, and have tested everything thoroughly.