One of the reasons that planning for elder care is not done is the reluctance of both parents and children to talk about money.  Dan Taylor in his book The Parent Conversation is very insightful about this aspect of elder care.

There seems to be a paradox about money.  On the one hand it is a huge measurement of success in America.  On the other hand, most people are not comfortable in discussing their specific situation.  Especially, if they perceive themselves as not making enough money.

It would be very helpful if you could view your parent’s money, less a measure of success, but more as a tool to accomplish their goals for retirement.

With this mindset your will be better able to assess their situation.  When you know what their true situation is you can start making realistic decisions as how to best use their assets.  If necessary you can start to convert less liquid assets, such as a house, into more liquid assets.  If necessary, you can begin to plan for Medicaid.

Not having enough money does not have to be a disaster.  But if you don’t do something to or if your parents are still reluctant to talk about their situation, it could become a huge issue.  It would be better for you to get them to plan now.