The cost of Long-term care is the # 1 reason seniors lose their lifetime of savings, including their homes
There are two types of planning-Advanced Planning (preemptive) and Emergency Planning.
Despite what you may have heard, it is not too late to do so called emergency planning. The government (Medicaid) still has laws that allow a family to restructure assets and do allowable spend downs in order to qualify for benefits.
Estate planning is different for everyone, since we all have different needs, and assets. You should discuss these matters with an estate planning or elder care attorney, and you family to prevent possible problems in the future.