First all if she owns a home it is time to transfer it to her children 5 yrs before she needs a nursing home. I know you are talking about assisted living, but the next step is a nursing home. You should talk with some of your friends that have gone through this. Also, ask another surgeon about the surgery.
Anyway, the state will take her home and sell it to pay for a nursing home, so now is the time to get rid of her assetts.
We are fixing to do the same thing, including the cash. It will still be their money but in the name of one of the grown children. This could be a tough thing for her to do but it does need to be done, because the state (medicare)does go back 5 yrs, it used to be 3 yrs., so better be safe than sorry later. Assisted living it does not matter she will pay for the care out of her own pocket.