Protecting parents assets
Background: My mother is 80, reasonably healthy, lives in Ludington, Mich. alone in a condo which she owns (makes mortgage payments), has about $150,000 in investments (mostly mutual funds), owns a late model car, and receives about $3000 per month in a survivor's annuity from the Federal Gov't. A couple of years ago she bought a comprehensive long term care policy which is current. She has six children,of which I am the second oldest and oldest male. My older sister (lives in Saginaw)and I (in Ohio) are executors of her estate as described in her will.
Question: What would you recommend as the best means (such as a trust) to protect her assets if she should become confined to a nursing home and the long term care policy is either inadequate or expires before her stay run out. Any other suggestion in general? Thank You.