Free Property Advice. Trusts, Wills & Succession
- To Trust, or not to Trust? Have you ever considered establishing your own family trust, but didn’t know where to start, or if it was even necessary? Dominique Fourie, a solicitor with AWS Legal, looks at the advantages and disadvantages of family trusts. Read More »
- Estate Administration When somebody dies, the paperwork involved in 'proving' the Will and in sorting out the deceased’s property can be daunting for the family. What's involved? Read More »
- Enduring Powers of Attorney. Why you should sign yours today In this article Harkness Henry Associate Annette Edwards explains the law relating to enduring powers of attorney with reference to the law that came into force on 25 September 2008. Read More »
- Purchasing Property from a Deceased Estate Nineteen-year-old first home buyer Jasmine, bought a $220,000, three-bedroom home in Porirua with a $15,000 deposit from a deceased estate in February 2008. Settlement (the date a buyer actually pays the money and gets the keys) was set down for 10 March 2008. Read More »
- Claims against a Deceased Estate The Family Protection Act 1955 (“the Act”) enables people to make a claim against the estate of a family member whom they believe should have made provision for them in their Will by virtue of the family connection, but have not done so. This article looks at who can make a claim and in what circumstances. Read More »
- The Wills Act 2007: A Timely Reform of Succession Law On 1 November 2007 the new Wills Act 2007 came into force. The Act consolidates several pieces of legislation including the Wills Act 1837 (a United Kingdom statute in force in New Zealand) and no less than five Wills Amendment Acts enacted between 1852 and 2005. This article takes the point of view that a makeover of the existing law relating to wills was long overdue, as 170 years had passed since the original legislation was enacted. Katherine Heta, a solicitor practising family law with the Whangarei Lawlink firm of Webb Ross, gives us a brief overview of the new Wills Act and some of the changes that have been made. Read More »
- Home Equity Release Schemes - A Means of Financing for Old Age People aged 65 and over make up a large and growing proportion of New Zealand’s population. Home ownership rates among older people in New Zealand are high, but their incomes are, on average, lower than for younger age groups, so that many fit the description “asset rich, income poor”. This article looks at home equity release schemes and makes several points you should consider before taking a scheme up. Read More »
- Trusts - The Paperwork is Crucial! Trusts are a popular choice for people who are concerned about protecting their assets for themselves and for their children. However, the formation of a trust by the execution of a trust deed and transfer of assets to the trust is only the start. A successful trust is one that is regularly monitored by the trustees and where there is a clear paper trail evidencing the ongoing administration of the trust by the trustees. Read More »
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