Our French speaking team has prepared a webinar to discuss the
unexpected consequences of holding assets in New Zealand when you
have ties to the francophone world. This webinar explores some of
the problems arising from this and the differences in New Zealand
law and the laws in French Polynesia, France and New Caledonia.
Please note this webinar is conducted in French.
By Lee Harris - 16 Nov 2022
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In New Zealand, the Protection of
Personal and Property Rights Act 1988 (PPPR Act)
provides that anyone who wants to put an enduring power of attorney
in place (i.e. a "donor") has to be independently
advised by a lawyer, who must certify that the donor fully
understands the nature and effect of the enduring power of
attorney.
However, a person who is appointed as
an attorney often receives little advice as to how they should
carry out their role.
By Kate Webster - 25 Oct 2022
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Dying without a will is far more expensive than paying a lawyer
to have your will sorted. All that is required to administer an
estate of a person who died leaving a will is to apply to a High
Court for probate of the will. Dying without a will involves an
application for intestacy, which is more complicated and costly
than a probate application.
By Polina Kozlova - 19 Aug 2022
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If you have family living overseas,
have you considered the foreign tax implications? Read on,
because chances are that either you or someone you know is
impacted.
Historically, information was largely
unavailable between tax authorities, but this is no longer the
case. The new trust disclosure obligations are an example of ways
that Inland Revenue can obtain further information about taxpayers,
whether they live in New Zealand or overseas. Have you thought
about how Inland Revenue will use that information and how it will
affect your family?
By Lee Harris - 22 Jul 2022
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Despite the mass exodus from New Zealand, there are still people
coming to New Zealand - and sometimes escaping judgments against
them. Can leaving the country leave behind your obligations?
By Kiren Narayan - 15 Jul 2022
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It is common for wills to delay vesting of assets until a later
date (e.g. when children or grandchildren attain 25 years).
It is also common for couples in a second relationship to leave
each other a lifetime interest in the family home. When either of
these scenarios lasts more than two years, a testamentary trust is
created. In the majority of cases, the new financial
reporting and disclosure requirements for trusts will then
apply.
By Lee Harris - 27 Jun 2022
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It is safe to assume that nowadays most of us have a "digital
life". Digital life, which inevitably one day will become a
"digital estate". Although the concept of digital assets of
sentimental value is not new, the concept of monetary valuable
digital assets is. We are now at the point where our online lives
need to be considered when declaring our wishes in wills or when
separating.
By Polina Kozlova - 15 Jun 2022
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Information that must now be provided alongside annual trust tax
returns will come as an unpleasant surprise for many trustees and
beneficiaries. There is no doubt that Inland Revenue is taking a
close look at trusts to evaluate how they are being used, and to
decide whether the use should be subject to tax.
By Lee Harris - 27 May 2022
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Supply issues in the construction industry at the moment are
well known. If you're in the industry and running the risk of
incurring penalties, there are things which can be done.
By Kiren Narayanan - 11 Apr 2022
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The Family Law section of the New Zealand Law Society, in
conjunction with Grant Thornton, recently released the New Zealand
Relationship Property Survey of 2021.
By Tara Grant - 21 Mar 2022
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