Subj : Re: Neuralink
To   : Andeddu
From : Tracker1
Date : Mon Aug 31 2020 16:18:21

On 8/30/2020 2:11 AM, Andeddu wrote:
> 
> Not very likely. Most US families live pay cheque to pay cheque and social care
> can cost around one thousand dollars each week. The elderly ususally have to
> liquidate their assets to pay for their own care, however those who have
> nothing do not have to pay. In the UK that's what happens as a lot of older
> people anticipating a move into a care home transfer their houses and other
> assets to their offspring 7 years prior, so they do not have any assets worth
> seizing.
> 
> Social care is one of the largest unfunded liabilities in the West and no
> country can afford it in the long-term. New solutions will have to be
> discovered for our generation. I hope automation can deal with this problem...
> robot carers may be the future.

It can be easier if you shift your assets into a trust in your early 50s 
as well, long before you are close to that point.  It takes some legal 
and accounting work to set these things up, but is often worth the 
effort.  Another point is to not buy anything (such as a car) you 
wouldn't outright own, to avoid debt once you're in your 50's.

Also, establish trustees that you *really* can trust and/or paid 
fiduciary services.

Disclaimer: I'm not a lawyer or accountant, so seek professional advice 
if you consider the above.

-- 
Michael J. Ryan
tracker1 +o Roughneck BBS

---
 þ Synchronet þ Roughneck BBS - coming back 2/2/20

.