Is there a tax incentivized account for saving for my parents?

My mother has cost of living of X and savings of Y. After so many years (maybe 15-20), Y may run out. As her son, I have a fiduciary duty to support her; after all she sacrificed her job development etc. to raise me. Since her financial outlook is better then most, I would still like to set aside, save, and invest for her with my own income to make sure she remains financially independent. And since I have about 15-20 years, this gives me a great opportunity to grow that money. Is there such a policy that will tax me at a lower rate, since the money is intended to support my mom at a future date if she needs it?