Trusts Act 2019
The trust landscape in New Zealand will change significantly from 30 January 2021 following the introduction of the Trusts Act 2019.
Providing financial support to your parents
Clients are loaning their parents cash. These loans are being secured in one of two ways. A mortgage over the parents’ family home, with repayment expected upon the death of both parents. Or children are being sold a portion of the family home in consideration.
Why would you need a trust?
We offer a holistic approach to property law. That’s why we have a specialist practice area for trusts, estates and succession planning. Helping our clients preserve their assets is an integral part of what we do. This is the second in a series of articles on personal asset planning.
Why you need to get your Will right
Holiday season and a new year gets many of us thinking about those important jobs we need to get to. If you haven’t already made a will; you may want to add this near the top of your list. A will is one of the most important legal documents you ever put in place. However, many people…
Wills and personal admin
If your personal admin list includes sorting your will, then September is wills month. A simple will is not expensive. It’s easy and saves your loved ones the added pressure of working out how to deal with your estate. If you die intestate (without a will) your assets will be distributed in accordance with the law. If…
Gift duty is no more!
The new gifting regime was ushered in on 1 October 2011. Does this mean no more annual gifting programme, no more acknowledgements of debt or deeds of forgiveness or gifting statements? Maybe, and then maybe not. Before gifting assets there are some things to consider. Take time to think about whether the gift remains a good…
Gift duty is no more!
The new gifting regime was ushered in on 1 October 2011. Does this mean no more annual gifting programme, no more acknowledgements of debt or deeds of forgiveness or gifting statements? Maybe, and then maybe not. Before gifting assets there are some things to consider. Take time to think about whether the gift remains a good…
Gifting your house to the trust, does it really work?
The transfer of homes into trusts is common place. It is done every day. People do it to protect their assets, to create a distinction between the entity owning the significant assets and the person taking on board liabilities. Abolishing gift duty will make the transfer of assets easier and avoid the need for long…
Independence and the Enduring Power of Attorney
Independent Witnesses – What the Law Requires Statute imposes specific obligations on how a power of attorney is to be signed and witnessed. In 2008 changes were made to the legislation that enabled the giving of enduring powers of attorney. The changes were intended to protect the people granting powers of attorney from being coerced…