A reference to “John Smith, late of Bedford County, Pennsylvania,” probably means that Smith used to reside in Bedford County but no longer does. It does not necessarily mean that Smith was deceased. “John Smith, formerly of Bedford County, Pennsylvania,” means that Smith used to live in Bedford County, but that he no longer does.
Deceased usually means dead.
“Late” does not have to mean dead. Sometimes contextually clues will make that obvious and other times they will not.