Find out if they have life insurance and how much. If not, perhaps they should do so depending on their age, resources and health. Not only will this expedite your decisions, it can help you avoid heavy inheritance taxes later. Look at the eligibility rules for Medicaid, veteran's benefits and home health benefits, just to name a few. Care for the elderly, either in the home or in a nursing or assisted-living facility, is extraordinarily expensive.
Nursing homes are more expensive than that.
Assisted living facilities aren't quite as expensive, but they require their residents be able to, at least partially, care for themselves. So enlist your parents' help and plan ahead. Conversations like these with your parents are difficult but necessary if you are to protect them, and yourself, as they grow older. Her mother has lived with her, in the author's home, for 13 years and has been an invalid for three of those years. As an only child, she has full responsibility for her mother, although often even in a larger family, one child ends up with most of the responsibility.