No enduring power of attorney
If you are unable to make decisions for yourself at any stage (either temporarily or longer term) it is important there is someone in place to act on your behalf.
Trusts
Accessing the assets of a trust
When a marriage, civil union or de facto relationship breaks down, the couple will usually divide their property according to the Property (Relationships) Act 1976 (the PRA). However, these two people often hold property in a trust rather than personally.
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?
Trusts have been established for many different reasons, including estate planning, creditor protection, to ensure access to rest home subsidies, tax benefits or for protection from relationship property claims.
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?”
Resolving the messy business of parental care
There comes a time in life where a certain amount of role reversal takes place between children and parents.
Do you really want to be a trustee for life?
All trustees have tasks and duties that have to be performed on a regular basis, even in small family trusts. It’s a burden of responsibility nobody can reasonably be expected to bear for life. This raises questions. When is the right time to walk away? What happens if an ageing trustee is no longer mentally competent? Here are the answers.
What you need to do to retire as a trustee
If you’ve agreed to act as trustee for a friend, family member or another entity, you’ll be aware that signing up is a relatively easy process. However, retiring as a trustee is not as straightforward. There’s an important process to follow to ensure there are no future problems for you or the trust.
A practical approach to trusts
The Trusts Bill introduced on the 1st August this year updates the Trustee Act 1956 and reflects decisions made about trusts in common law. It also provides solutions for issues that have been facing lawyers and trustees for some time.
More on Kiwisaver, multi offers and insulation
What many people don’t know is that you can still use your KiwiSaver funds to purchase a home owned by a trust, or partly owned by a trust.