Her family does not want anything to do with her. She moved in with me and we split everything, bills, food, car ins, house ins, gas etc. She is also paying me monthly to take care of her. We agreed that I would not put her in a nursing home as long as I could take care of her. She is 65 and I am 70.
The financial aspect is important but you need to do things that ensure and enable you to be able to make decisions for her when the day comes that she can't and do it now when she is still cognitive. DPOA, MPOA, some sort of "Guardianship In case of Incapacity" and then update your wills with a codicil if there are changes to beneficiary's. IF something happens to you, what happens to her also needs to be considered. If you have your own family, that needs to be considered also.
The personal care contract is good but I'm not sure if you want to do that - if you're 70 your SS & retirement situation is set and making more taxable income may not be what you want to do. It may be better for her to pay rent instead or perhaps something else. A lot of this depends on what is anticipated for her health and also for yours. If realistically, you gals could have a decade together it could be better to have her pay rent and use the funds to get the house so that you both can age in place. If she has the situation where a shorter time is more likely, then you have to be more careful as Medicaid has a 5 year look back. But whatever the case you have to have legally binding agreements on all this both for future Medicaid application and if family comes around in the future.
If both of you do not have totally prepaid funeral and burials done - that would be a good thing to have rather than paying for caregiving.