Trusts / Asset Planning

New Enduring Powers Of Attorney – What You Need To Know

Created: Wednesday, 15 March 2017 15:41

In December 2016 amendments to the Protection of Personal and Property Rights Act 1998 (“PPPR Act”) were passed by Parliament. These amendments will come into force on 16 March 2017. Among the amendments that have been made are regulations to adopt new forms of the enduring powers of attorney (EPA). From 16 March 2017 these new forms will need to be used. If you have completed an EPA using the old forms but you and/or your attorney have not signed them before 16 March 2017, then these will need to be redone on a new form.

Read more ...

Beware: Disclosure Rules for Foreign Trusts Have Tightened

Created: Wednesday, 15 March 2017 15:14

In February 2017 the New Zealand Parliament completed its third reading of the Taxation (Business Tax, Exchange of Information and Remedial Matters) Bill which is due to come into law soon. The Bill introduces new laws for the administration of New Zealand foreign trusts.  The reforms are based on the recommendations of the Shewan Inquiry which was set up as a result of the Mossack Fonseca data leak in April 2016 (the ‘Panama Papers’).  The report raised concerns about the need for disclosure rules relating to foreign trusts registered around the world.  The New Zealand Government has decided to enact the new law to ensure New Zealand's reputation is maintained. 

Read more ...

Why have a Will?

Created: Thursday, 02 March 2017 08:41

Your will is one of the most important documents you will sign in your life. It has a profound effect on the legacy you will leave your loved ones.

Read more ...

Why have a Trust?

Created: Thursday, 02 March 2017 08:27

There are many reasons for creating a trust, and our team of trust experts briefly cover them here.

Read more ...

Who do you want to control your Estate?

Created: Tuesday, 08 March 2016 09:25

It is estimated that only half of New Zealand adults have a will.  Even where there is a will in place, it may no longer be valid (a will is revoked on marriage or civil union) or relevant to the will maker's current circumstances.  Our busy lives mean many people delay signing and/or updating their will.  The consequences of dying without a valid will are often not appreciated.

Family dynamics are much more complicated in our modern world.  Blended families, that is where at least one of the partners has a child not biologically related to the other partner, are common.  People are re-partnering later in their lives.  These factors result in complicated and more frequent family disputes upon the death of a loved one.  These can be minimised where there is a valid will and appropriate estate planning.

Read more ...

I am receiving an inheritance - do I have to share it with my spouse/partner?

Created: Wednesday, 28 October 2015 22:27

THE PROPERTY (RELATIONSHIPS) ACT 1976 ("THE ACT")

The Act applies to all marriages, civil unions and de facto relationships. The Act deals with the division of property upon the end of a relationship whether that be through death or separation.

Under the Act property is divided into two categories:

Read more ...

 

Need Assistance?

Call

Auckland Office: +64 9 379 9350

Wellington Office: +64 4 499 9824

Email: law@brookfields.co.nz

Contact us today
 

Signup Today!