This was the question faced by the executor/trustee of the estates ofMargaret and Ian Glue. Margaret died in 2005, leaving a life interest in her estate to Ian, and her remaining estate to her two sons. Ian died in 2009, also leaving his estate equally to his two sons, David and JohnJohn received his inheritance. David, however, could not be found despite exhaustive efforts even though it was believed he was alive. The executor/trustee had held David’s inheritance for years and wanted to be free of his obligations. We follow the HighCourt’s decision to close this case.
New retention monies legislation gives better protection
The Construction Contracts (Retention Money) Amendment Act 2023 was passed on 5 April this year with the legislation coming into effect on Thursday, 5 October 2023.
Mainzeal decision
Taking on the responsibility of a directorship is not a decision to be taken lightly. For New Zealand directors, the magnitude of the director role has been hammered home with the decision of the Mainzeal case from the Supreme Court in late August
Polyamorous relationships
In a split decision, the Supreme Court recently confirmed that polyamorous relationships can be divided into two or more qualifying relationships, to which the provisions of the Property (Relationships) Act 1976 (PRA) can apply.
Refusing an inheritance
This was the question faced by the executor/trustee of the estates ofMargaret and Ian Glue. Margaret died in 2005, leaving a life interest in her estate to Ian, and her remaining estate to her two sons. Ian died in 2009, also leaving his estate equally to his two sons, David and JohnJohn received his inheritance. David, however, could not be found despite exhaustive efforts even though it was believed he was alive. The executor/trustee had held David’s inheritance for years and wanted to be free of his obligations. We follow the HighCourt’s decision to close this case.
Decision in ‘Alphabet case’ could change succession landscape
In June 2023, the Supreme Court heard the ‘Alphabet case.’ Mr Z severely abused his wife and children physically, psychologically and sexually. He died in 2016 leaving a small estate. He had, however, earlier settled a trust to prevent his children “chasing” his assets. The children, despite the bulk of their father’s assets being held in a trust, believed he owed them a fiduciary duty because of the abuse they had suffered.
We await the Supreme Court’s decision.
Over the fence
Obligations of working dog owners; MPI: Animal welfare checks; Firearms Registry opened 24 June 2023
Emissions Trading Scheme
The ETS is the primary regime used to achieve the government’s long-term commitment to reduce New Zealand’s greenhouse gas emissions. The government has now acknowledged that the current framework is not perfect and the ETS must adapt. In June, two discussion papers were released as part of the government’s consultation process; we outline the proposed changes.
Freshwater farm plans
Freshwater farm plans are part of the Essential Fresh water package introduced by the government in 2020. We discuss what is required of farm plans that will be rolled out by region over the next two years.
Property briefs
Unit titles legislation updates; First Home Grants thresholds increase; Loan to value restrictions eased
Owning a heritage building
In this article, we outline some things you need to think about when owning or buying a heritage building.