Personal Services

Trusts and Asset Protection

Trusts offer a way to protect your assets for the next generation and from potential relationship property claims and claims from creditors. They are a popular mechanism in New Zealand to manage your assets. We can advise on the advantages and disadvantages of establishing a trust and the right trust for your circumstances. We can assist with the preparation and advise as to the rights and obligations of each party to the trust.

Wills/Estates/Succession Planning

A will outlines your wishes to be implemented once you have passed away. It is a legal document that should clearly record your instructions to limit any disputes and challenges to your estate. If you die without a will, your estate is administered and distributed in accordance with the Administration Act 1969. This may mean that your assets are distributed to those other than you intended.

We recommend obtaining professional legal advice in the preparation and drafting of your will to ensure it meets all legislative requirements and your current circumstances, while catering to your succession plan.

Following death, we can assist in the administration of your estate. This can include making an application to the High Court for probate, notifying entities of death, collecting assets, arranging the payment of debts and funeral expenses, assisting your executors through the administrative process and distributing the estate in accordance with your will.

Powers of Attorney

A power of attorney is a document appointing someone to make decisions on your behalf or sign documents for you. There are various types but the most common is the enduring powers of attorney (EPA) which allows your attorney to continue acting for you even if you are no longer able to make decisions for yourself.

Life can be uncertain. Anyone at any age can have an accident or be hospitalised with a serious illness. Someone needs to make sure the mortgage and other bills are paid. If you become incapacitated and have not signed an EPA, then the alternative is to get an order from the Family Court, which is an expensive exercise.

We can provide advice as to the best option for you and assist in preparing the document you require.

Relationship Property Agreements

Relationship property and the division of assets is governed by the Property (Relationships) Act 1976.

When a relationship ends, unless you have a contracting out/prenuptial agreement, your assets and debts are divided in accordance with the Act. This will usually be a 50/50 division with certain exceptions. If you are entering into a relationship and want to protect your assets and not have them divided in this manner, you can contract out of the Act. We can provide advice as to your rights and obligations and assist in the preparation of the legal documentation to effect this.

Should your relationship end, we can provide advice and if necessary prepare a separation agreement.