I mean that's why they have care facilities and stuff. If you can't take care of them or don't have the mental ability to, a care facility is the best place for them or maybe apartments just for the elderly etc. i feel the responsibilty on someones children is what is they feel is best for the parents, if they can manage helping them do so, if you know you can't, than be honest with yourself and put them somewhere they will get the best help they can.
I think as parents get older and you know they may not be around much longer try to talk to them often, make calls, be there for them, visit if you can, 'cause you never know.