Originally Posted by
Bjauck
Carers need to be patient - definitely not for everyone!
Dementia, for example, is an illness and it could be argued that Health Boards (i.e. Taxpayers) should cover the costs of the long term care of dementia sufferers. As it is, the lottery of whether you will require long term care has in the past provided a boost for the family trust industry in order to preserve assets. Means testing increasingly look into trusts however. I don't think there are insurance policies available in NZ to cover for long term nursing home care.
If you may have to spend just about all of your savings on end of life care, what would that do for the incentive to accumulate savings and maintain investments? Why not just spend now?