Refusing an inheritance
What is the trustee of an estate supposed to do when a beneficiary will not accept their inheritance?
Polyamorous relationships
Polyamorous relationships can be subdivided into two or more qualifying relationships, to which the provisions of the Property (Relationships) Act 1976 (which applies to relationships between two people) can apply.
When do a Parent's Responsibilities Cease
In June 2023, the Supreme Court heard the ‘Alphabet case.’ To understand the significance of what is at stake in this case, it is worth considering the facts that gave rise to the litigation and the High Court’s decision.
Caring for Kiwis who cannot make decisions
Since American entertainer Britney Spears' conservatorship ended, she has made a number of specific allegations against her conservators. Could any of these things have happened in NZ under the Protection of Personal and Property Rights Act 1988?
Where there is a will, what is the way?
A child (of whatever age) can make a claim against the estate of their parent under the Family Protection Act 1955 (FPA) if their parent dies and makes insufficient provision for them in their will.
Gift or loan?
The trusty Kiwi “She’ll be right” approach is often manifested in a reluctance to formally document intra-family lending arrangements. Catch cries of “I trust the kids to sort things out between themselves after I’m gone” and “My new partner says she will never make a claim and I believe her” are common
New trusts legislation now in force
The Trusts Act 2019 came into force on 30 January 2021. One major topic of discussion arising from the new Act has been the provisions governing disclosure of trust information to beneficiaries...
Trustees’ expenses
When trustees incur expenses, they are not expected to be out of pocket in carrying out their responsibilities. Trustees are entitled to use trust money or...
Succession and trust law changes
A significant change to the succession laws relating to Māori land came into force on 6 February 2021 (Waitangi Day).
Legal documents signing: lockdown
During the COVID lockdown, special rules applied to the signing of some legal documents.
Trustees’ decisions
In a recent case (Unkovich v Clapham [2020] NZHC 952) trustees’ decision-making came under scrutiny from the High Court.
Relationship property claims
When entering a second or subsequent relationship, it is common to want to keep assets safe from relationship property claims.
Enduring powers of attorney
In previous articles in Trust eSpeaking, we have explained why it is important to have an enduring power of attorney (EPA) and the problems that can be created if you do not have one when the need arises. You should have two EPAs – one for property, and the other for personal care and welfare.
Claims on an estate
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’.
Succession law in New Zealand
In late 2019 the Law Commission reported back to the government on its review of the Property (Relationships) Act 1976 (PRA).
Trusts Act 2019
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.
Grandparent wills
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.
Residential care subsidy thresholds
Increasing numbers of elderly New Zealanders are going into residential care and seeking the government’s residential care subsidy.
Accessing the assets of a trust
What the future may hold for separating couples with a trust
No enduring power of attorney?
It’s a time-consuming and expensive process if you don’t have an EPA
The bank of mum and dad
Helping your children – with care
Validating imperfect wills
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.
How do I bring my trust to an end?
This article explores the two most common ways that trusts can be brought to an end – bringing forward the date of distribution (the trust’s expiry date) and distributing all the trust assets to beneficiaries.
Do I still need a trust?
If you have a family trust set up a number of years ago, it’s good practice to review it to ensure it is still ‘fit for purpose’. Leading on from that is the question that is often asked of us, “Should I bring my trust to an end?”
Trustees’ liability for litigation costs
Trustees and executors are not always entitled to reimbursement for their litigation costs...
When Grandma comes to live with us...
As parents age, their children often find they need to take an increasing role in looking after them...
Option A or Option B?
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...
Ageing trustees
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?...>
Trusts Bill
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...>
Retiring as a trustee?
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...>
Looking after your inheritance
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. >
Will your business survive if you don’t?
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. >
Foreign trusts: tightening up the rules
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 under attack
Trusts can sometimes be used to protect assets from future claims by a former spouse or de facto partner. Trustees need to be cautious... >
Beneficiaries' and trust information
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 ... >