With those types of assets she'll probably qualify Medicaid- she will also qualify for VA care facility- she's the spouse of Military. Start the process now, it's gonna be a while.
Find a GOOD VA care home that will do Alzheimer's, and go for it.
rjp
EDIT: Start HERE.
http://www.dads.state.tx.us/services/faqs-fact/nf.html
http://www.dads.state.tx.us/news_info/ombudsman/financing.html
How this deal works (in NV at least) is MIL geet put in the care home based on the anticipation that you WILL qualify- so, the nursing home people check you out, and figure you qualify for medicaid, and let you in.
Fast forward a few months, your MIL will be recieving huge medical bills for the care, while they wait for Medicaid approval- medicaid doesn't kick in until AFTER you are admitted to the home, when it does kick in, it usually retropays to the first days, after CONTRIBUTION- whatever they figure your MIL has to pay to "spend down" her assets to qualify.
So, start looking around for a VA care home that does alzheimer's, talk to them, they check out MIL and then they forward you to a Medicaid specialist who slams the paperwork through so the nursing home gets paid. Medicaid won't talk about paying for long-term care until AFTER she's been diagnosed, need established and she's been admitted and technically personally liable for the care bill, since she's admitted already.
You will get bills, but don't pay it- Medicaid is officially approved and will take care of most of the balance and the amount you need to pay is established then...Be ready, it's gonna come out of MIL's estate.
It's a load of paperwork too, they want all kinds of bank statements, proofs of deposit, all kinds of stuff to establish need. Be ready, start saving all bank statements, cancelled checks both paid out and payable to her, etc. etc.
NOTE: this is just my experience with the process in NV, it could be different in TX.