Is it to late to transfer assets?

It seems unlikely that this is good advice.  If your father wants to transfer assets into your name, he should note that Medicaid regards any transfer of assets for less than fair market value within the 60 months before the Medicaid application to be an attempt to get around the asset limitation in order to qualify.  This will result in him not be eligible for Medicaid for months, maybe years.  If your mother is going to pass soon, can your father say with absolute confidence that he will not need Medicaid within the next five years?  BTW, you could be found guilty of Medicaid fraud, a criminal offense.