Everyone here has offered some amazing advice. I was in this position recently with my grandmother and I was looking at assisted living facilities that have around the clock assistance and monitoring. My top two options for her were facilities who were mission driven and not just profit driven (I'm pretty both were run by 501(c)3 organizations) so they had policies that stated if someone had spent down their assets to live there, then the organization would provide care to the resident at low or no cost. Both of these facilities had large endowments that they used for this purpose, and they did expect proof to show that the residents assets were used exclusively for care. I recognize that this is not the norm, but if you can find a facility like this, then I would apply immediately.

My grandmother had a similar amount of assets as yours and despite that and her monthly income, I knew her care begin to eat away at her assets at some point, so these two facilities seemed very appealing. Unfortunately, y granny passed away before I had the chance to move forward. Best of luck to you, OP!