A recent decision of the High Court of England and Wales has wide reaching implications for New Zealand trust law and the Property (Relationships) Act 1976.
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...
As parents age, their children often find they need to take an increasing role in looking after them...
When your spouse or partner dies you will need to make a very important decision between your entitlements under their will and potential claims against their estate...
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... >
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...>
The implications of the Clayton case a year on - has it really exposed trusts in relationship property situations? >
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. >
You work hard to build up your assets over your lifetime, so you should decide what happens to them if you become incapacitated and when you die. Make sure you have a Will and EPAs. >
Foreign trusts have been in the news recently. The government has now introduced legislation to tighten up the rules. But what are foreign trusts and is this important to you? >
Trusts can sometimes be used to protect assets from future claims by a former spouse or de facto partner. Trustees need to be cautious... >
The extent of a trustee’s obligation to provide information to beneficiaries has been a continuing source of frustration for trustees, particularly those whose discretionary decisions may be challenged. Recently the Court of Appeal clarified the nature and extent of this ... >