Agewell Health promotion for older people in New Zealand

Financial and Legal Planning

Financial and legal planning are very important issues when looking ahead. In order to make the best decision for your own circumstances, we suggest you obtain as much independent financial and legal advice that you can. For more information on Enduring Powers of Attorney view the Elder Abuse and Neglect page.

There are a variety of financial websites and options available, it may be best to search for these. The following websites may also be of assistance.

Work and Income New Zealand
Guardian Trust
Public Trust
also try Sorted the Retirement Commission site that helps you plan and sort out the relevant money matters.
Law Access provides public access to an extensive range of law-related information. It offers people with legal problems or questions quick and easy access to quality information on rights and responsibilites under specific laws, as well as more practical information such as how to contact local community law centres.

Planning ahead for retirement may entail setting money aside for funeral expenses. Up to $10,000 can be put into a special funeral fund. The Government can also assist where it is difficult to do this. The Government has increased the maximum allowable level of a funeral grant to recognise that funerals have become more expensive. The maximum allowable level of a funeral grant has increased from $1,236.26 to $1,820.08 (as at 1 April 2009), is income and asset tested and will continue to be adjusted annually in line with the Consumer Price Index. The new maximum represents a 25% increase in the grant level and will assist low income families and relatives with funeral costs.

A topic that has been discussed for a number of years is Asset Testing of older people's income and assets. This has been highly controversial and is highlighted when assistance is being sort for services and in particular Rest Home accommodation. There has been a progressive removal of asset testing of older people in residential care from 1st July 2005. For information on Asset Testing for Residential Care, and questions and answers view the Ministry of Health site.

Age Concern New Zealand have produced an excellent pamphlet entitled What happens if you can no longer make decisions? You may view the pamphlet or the booklet Planning your future online. Adobe Acrobat Reader is required to view it, if you do not have this, download it for free from Adobe online. For more information on Enduring Powers of Attorney you can view the Elder Abuse and Neglect page

View Planning Ahead page

Please Note Age Concern North Shore has tried to ensure that all information on this website is correct. However, Age Concern North Shore does not accept liability for any statements or advice contained on, or omissions from, nor endorse any suggested site on this website. Other websites referred to on this website are here for reference only. The information on this website should not be regarded as a substitute for professional advice and we do suggest that you consult with your health, legal or financial professional.

Website last updated 30/06/2010