Will my savings be taken to pay for my husband's care? - Ask Susan
A reader asks if their personal savings will be used to fund their husband's rest home care in New Zealand. The expert explains that government subsidies for residential care are subject to a strict asset threshold that considers the combined assets of both partners.
Why it matters
This clarifies the financial implications of long-term care policies for couples, highlighting the risks to individual savings in a shared-asset assessment model.
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My husband and I have a freehold home. We both receive superannuation. He has, in his name, approximately $300,000 in terms deposits. He has sundowner dementia, and contributes nothing to our daily living costs, so I am still working full-time and contributing to KiwiSaver. I have several term deposits in my name, I received two small inheritances and an employment settlement.
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