The Family Protection Act 1955 allows children to bring claims against the estate of a deceased parent on the basis that their parent did not adequately provide for their ‘proper maintenance and support’.
The new Trusts Act 2019 will come into effect on 30 January 2021. Much of the Act updates or restates law that exists already, either in statute or in case law. There are, however, a number of changes about which trustees and settlors should be aware.
Grandparents often want to give some financial assistance to their grandchildren and great-grandchildren. There can be a number of good reasons for making specific provision for grandchildren in your will or through a family trust.
Increasing numbers of elderly New Zealanders are going into residential care and seeking the government’s residential care subsidy.
What the future may hold for separating couples with a trust
It’s a time-consuming and expensive process if you don’t have an EPA
Helping your children – with care
No one should want to be trustee for life. It’s useful for trustees to think about a succession plan: which trustees should we expect to retire or be replaced and who are the likely replacement trustees?...>
The long-awaited Trusts Bill was introduced to Parliament on 1 August 2017. The bill is an update to existing trust law and deals with practical issues that have faced lawyers and trustees for some years. We outline some of the most important parts of the Bill...>
Many people agree to act as trustees of trusts set up by friends or relatives on the basis that they wish to help out or assist their friend or relative in some way. Eventually it comes time to retire...>