What does it mean to contest a will? The answer depends on why you are unhappy about it. This article explains the five most common reasons to contest a will in New Zealand: The will-maker failed to make adequate provision for a family member’s proper maintenance and support, in breach of a moral duty to… Continue reading Contesting a Will in New Zealand
Estates & Trusts
Will Contests Between Siblings – Who Gets What?
When a parent passes away, disputes about how the estate is to be divided can arise between their children. Siblings are often unhappy about the share given to them under the will or about the fact they have been cut out entirely. What can be done about this? Are siblings stuck with the terms of… Continue reading Will Contests Between Siblings – Who Gets What?
Transferring Trust Property to New and Continuing Trustees
When a new trustee of a trust is appointed, or an existing trustee retires or is removed, the trust’s property must be transferred from the existing trustee(s) to the continuing and new trustee(s). In other words, the trust property must be divested from the old trustee and vested in the new trustee(s). Nature of Trust… Continue reading Transferring Trust Property to New and Continuing Trustees
Relationship Property on the Death of a Partner or Spouse
When two people are married, civil union partners, or de facto partners, and one spouse or partner dies, the question arises of how to deal with their relationship property. The term “relationship property” is defined in section 8 of the Property (Relationships) Act 1976 (PRA) and includes the family home, family chattels, and other jointly… Continue reading Relationship Property on the Death of a Partner or Spouse
What Is a Will?
A will records the final instructions of a natural person (the will-maker) for disposing of their property when they die. It may also include the appointment of a testamentary guardian. A will is only valid if it complies with section 11 of the Wills Act 2007 (Wills Act) or is made by court order. A… Continue reading What Is a Will?
Do I Need a Will?
You should have a will if any of the following applies to you: You have more than $15,000 in your Kiwisaver or in your bank accounts. You own an asset worth more than $15,000. You are the sole owner of land or own land as tenants in common. You have dependent children. You have powers… Continue reading Do I Need a Will?