What typically happens is that a local authority refuses to pay care home fees when it discovers, in the course of the financial assessment it makes of each new resident, that a major asset, such as a house, has been given away.
"This is precisely the sort of circumstance in which the federal government should be stepping in to seek the proper environmental management of actions that risk the health of major environmental assets such as the Great Barrier Reef," Lindsay said.
Major asset managers such as Global Infrastructure Partners and pension funds TIAA-CREF are sensibly attracted to an asset class with lower volatility than equities, better returns than fixed income, and steady dividends.
Purchases of major long-life assets such as rolling stock, planes, wind turbines etc. represent a substantial investment by companies or governments, from which the owner needs to ensure maximum return over the asset's life.
Like all personal finance issues, estate planning should be adjusted when significant life changes happen or if there is a major shift in assets, such as when a relative needs help.
There has also been a major flight into perceived safe assets such as gold.
By "financial distress" we mean a situation in which a firm is close to default and it needs to take corrective action, such a selling major assets, merging with another firm or filing for bankruptcy (Ross et al. 2005).
