Should be reimbursed, but no need for extravagance 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 to get a refund from the trust fund if they incur expenses...
Extension of Māori Land Court jurisdiction A significant change to the succession laws relating to Māori land[1] came into force on 6 February 2021 (Waitangi Day). Te Puni Kōkiri states that the amendments to Te Ture Whenua Māori Act 1993 are intended to better support whānau to succeed...
Sign a contracting out agreement When entering a second or subsequent relationship, it is common to want to keep assets safe from relationship property claims. An effective way to do this can be by transferring assets to a trust. Care needs to be taken, however, to...
Decision-making can be affected by bias In a recent case[1], trustees’ decision-making came under scrutiny from the High Court. Lara Unkovich was a young teenager when her grandfather died in 2016, leaving her a share of his estate. Her share was worth around $65,000. Under his will...
Best to sign again after lockdown to avoid later complications During the COVID lockdown, special rules applied to the signing of some legal documents. Obviously it was, and is, not possible to have your signature witnessed by someone outside your bubble in Levels 3 and 4....
Our office will be re-opening Thursday 14th May. For this week, our hours for Thursday and Friday will be from 9a.m and closing at 4p.m. From Monday 18th May we will be back to our usual hours. 8.15a.m to 5.15p.m. We are looking forward to seeing you all...
Agriculture continues to be the mainstay of our economy The COVID-19 virus that is sweeping the world will impact upon us all and pretty much everybody in the world one way or another. The repercussions will differ depending on where you live, what age you are...
How much can a disinherited child expect? 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’. Exactly what constitutes ‘proper maintenance and support’ is the...
How many people should you name as attorneys? 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...
Law Commission to review conflicting inheritance laws In late 2019 the Law Commission reported back to the government on its review of the Property (Relationships) Act 1976 (PRA). Discussion on Part 8 of the PRA that deals with the division of relationship property on the death of a spouse or...