The redistribution of wealth is happening at a rapid pace - some are getting poorer very quickly, while others are getting richer. A significant part of this flow of money is going to the older population. And it is definitely not insured against the diseases that accompany old age.
For example, as of 2020, elderly people with advanced dementia in Japan own a wealth of 187 trillion yen (almost 1.2 trillion USD). Experts say this amount will reach 242 trillion yen (over 1.5 trillion USD) by 2030, according to the country's leading business newspaper, Nikkei, citing banking experts.
Sixty-five percent of these assets are deposits in financial institutions and other monetary assets, and the rest is the value of real estate.
If a person shows signs of incapacity while making a bank transaction, their account can be frozen. In this case, the appointment of an official guardian will be required; similar procedures in the family court in Japan take several months.
According to official figures, the number of people suffering from dementia in the country will increase by 11% by 2030 compared to 2025 levels, exceeding 5 million. However, there are currently only approximately 260,000 official guardians of such people in Japan. A bill has been introduced in the Japanese parliament that would simplify the procedures for appointing guardians and define their rights and responsibilities.