Trustees signing unlimited bank guarantees?
Trustees should not sign an unlimited guarantee without first considering their duties to all the beneficiaries. We take a closer look at the risks and implications.
Trusts
Enduring Power of Attorney
If your family member is losing capacity and has an Enduring Power of Attorney (EPA) in place, you will be reassured that their attorney is working in your loved one’s best interests. Very occasionally, however, this isn’t the case. In this article, we look at how an EPA works and what can be done if you believe the attorney is not doing their job properly.
The office of executor: does it ever end?
Being an executor is a big responsibility, and it is not always over when you think it has been completed. If you are considering who to name as executor in your will, you should be aware that the role is very important and can last longer than expected.
Succession drama for Rupert Murdoch trust
The Murdoch case illustrates how important it is to get things right from the outset to protect the beneficiaries from someone trying to make unexpected changes later.
Gloriavale debanked!
For many years, Gloriavale has banked with the Bank of New Zealand (BNZ). In July 2022, BNZ notified Gloriavale that it intended to end its contractual relationship and stop providing banking services.
Disinheriting your children: can it be done?
In New Zealand, if a will-maker entirely excludes some close family members from their will, those people will often have claims against the will-maker’s estate.
Contracting out agreements for relationships late in life
Contracting out agreements are particularly useful for couples entering into a de facto relationship, or marrying later in life, as both parties are more likely to come to the relationship with more complex financial affairs.
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.
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.
Tikanga in the law of Aotearoa New Zealand
Late last year the Supreme Court quashed Peter Ellis’ multiple 1993 convictions of sexual offending against children who had attended the Christchurch crèche where he was a teacher. His 1994 and 1999 appeals to the Court of Appeal had been unsuccessful. In July 2019, the Supreme Court granted leave to appeal the Court of Appeal decisions giving an extension of time to do so.
However, Mr Ellis died in September 2019 before the Supreme Court heard his case. Usually, an appeal dies with an appellant.