If I have a trust will I get a rest home subsidy?
Unfortunately having assets in a trust will generally not help you qualify for a rest home subsidy.
The Ministry of Social Development is concerned with social security law, not trust law. The overarching principle in the Social Security Act 1964 is that those who have resources should be required to use them to support themselves.
Giving away resources such as selling assets to a family trust and then forgiving the debt back is not a “magic bullet” to help you qualify for a subsidy.
Do you have a family member who may need rest home care? There are still options for the prudent client to minimise rest home charges.
For more information contact Neil Evans or Michael Hockly