The laws about the administration of estates are being reviewed by the Law Commission. Much of what has been proposed so far is uncontroversial but there are some recommendations that may prove unpopular, although they are likely to be refined during the Parliamentary process.
While the country remains at COVID-19 Alert Level 4, you may be considering the need for a new will.
New Zealanders need to find time to sit down and make sure they have a will. We all know this is important but how many of us don’t get around to it?
For wills to be valid they must comply with a number of legal formalities; they must be in writing and there must be two witnesses who must attest to the will-maker signing the will in their presence.
What happens when your parents die broke? Can you inherit their debt?
What does it mean to have ‘mental capacity’ when it comes to signing a will or an important legal document? This has recently become a hot topic, with new case law shining some much-needed light on the subject. It’s also something that families need to be aware of as their loved ones age.
Trustees and executors are not always entitled to reimbursement for their litigation costs...
Making sure everyone you care about gets a fair share of your property after you die is an issue most of us grapple with. This may also have additional complications when you have a blended family. It’s not always as easy as just writing your Will and specifying who gets what... >
Having an Enduring Power of Attorney (EPA) is as vital as making sure you have a Will. Whether you’re 18 or 80 years old, you never know when you may need to have a responsible person to make decisions on your behalf. >
For many people a gift by Will (also known as a legacy) from a relative or friend can be very significant – both personally and financially. The relative or friend wants to show you kindness but also usually wants the gift to be of real benefit to you personally. You need to keep it protected. >
In late 2013, the Law Commission completed a report recommending that a new Trusts Act replace the Trustee Act 1956. It is intended that the new legislation will be the primary source of trust law in New Zealand. We outline below some key proposals. >
Most owners want to ensure their business will continue after they have died. However, there is a lot more planning that you should do other than just having an updated Will and Enduring Powers of Attorney. >