With over half of all marriages ending in divorce, it is statistically very likely that there will be a divorce in two generations of any given family.

So, if divorce is potentially on the horizon how do clients, contemplating intergenerational succession planning, accommodate this possible risk?

A poorly drafted will or one that is outdated and doesn't meet your current needs can cause problems and lead to family disputes.

Having a trust in 2021 is nothing like having a trust just three years ago. Laws affecting trusts have changed significantly and so have the costs of having a trust due to the new duties imposed on the trustees.

A ‘hardening of the rules’ brought about by the new legislation is seeing some people who have settled trusts grappling with the implications of having lost direct control of their assets. 

Although it is difficult to prevent a claim being made against a testator’s estate after their death, there are some factors that can be considered.

The “shake up” of the trust legal landscape caused by the new legislation means that settlors and trustees are strongly recommended to review their trust and take advice to ensure it is fit for purpose.

The Covid-19 pandemic is causing significant challenge and stress to the economic environment and the imperative to respond and adapt to this event has brought estate planning and trusts back into the spotlight.

In this article we highlight some of the current issues relating to trusts and in the private client space more generally.

It will effectively be retrospective meaning that it will apply to all trusts, including those trusts created under the previous legislation.

Trusts are a popular asset planning tool in New Zealand.  The exact number of trusts is unknown, however, it is estimated that there are between 300,000 and 500,000 trusts in New Zealand.  The changes proposed by the Trusts Bill will therefore impact the lives of many New Zealanders.

Many elderly people view moving into a retirement village unit as a safe, secure and convenient way of life. However, the financial and opportunity costs involved in entering into a retirement village need to be carefully considered. 

According to research by Perpetual Guardian last year, four in ten New Zealanders don't have a Will.

If you are contemplating establishing a trust you are strongly recommended to use someone who is experience in Trust Law. Contact our trust expert John Stirling, Partner.

The answer is frequently “yes”, but often not in the way that many people think.

A carefully prepared Will prevents a lot of family arguments and can eliminate claims against your estate.

The death of a loved one is always traumatic. Feelings of grief can be compounded when the Will is read and someone else feels they have been left out.

One of the most vexing questions that we face as we get older is how we will provide for ourselves into our retirement.

We are strongly encouraging people who don’t have a current will, or who have had life changes since last preparing their will, to make an appointment and let us help you through the process.

Learn about the types of Enduring Power of Attorney's and their key requirements.