In our family we are bound to each other by strong familial ties and by tradition.
Parents give their children as good an education and they can manage, some of it within the home and some at school etc. The children are then expected to make their own way into the world but the parents remain their supporters and helpers, sometimes with money, sometimes by lending a helping hand with the children or with homemaking.
Later, the parents take a step back and just fill the role of grandparent. Eventually, the early roles are reversed. The children help and support their parents, managing the parents' money for their benefit. If it has to be spent on their care, then it will be. If any cash or real estate is left when the last parent dies it passes to the children. Maybe it is a small sum, maybe there is bugger all. The children have already had the benefit of their parents' resources early in life. They should expect no more than this.
This is how it was with my parents and my sister and I. It is how it will be when I am in my dotage. It's not about debt. It's more about needs shifting over time and a sharing of resources to meet those needs.