And if you are on good terms with your children and in poor health, start now in moving your assets to their names (with the assistance of an elderly law attorney). There is a “claw-back” period of five years (I believe) and any assets transferred after that period of time will be cancelled. If you spend months in a nursing home paid by Medicare, they will come for your home after your death regardless of who it is left to in your Will.
For instance if a widowed mother enters a nursing home six months prior to her death and transfers her home into a child’s name at that time, then after her death the government will still take her home. It matters not if it is now in her adult child’s name and that child has moved in with their family. There are a few exceptions for long-timed live in care givers, but you need to have an attorney to help you make those decisions.
Good advice here as well. Will be making an appointment soon to see somebody who specializes in elder law.