What is a testamentary guardian? A testamentary guardian is a person appointed by Will or Deed to help make important decisions about a child’s upbringing after a parent’s death. By appointing a testamentary guardian you are not appointing somebody to care for your child if you die. That is something quite different and cannot be …
Have you considered what will happen to your loved ones and the causes you care about after you’re gone? Did you know, you can direct gifts and distributions to your family whilst still making provision for charities you care about in your Will? In this way, your Will is much more than just a legal …
What is a Power of Attorney? A Power of Attorney is a legal document appointing a person or people to act on your behalf should you become unable to make decisions for yourself. There are two types of powers, “standard” and “enduring”. Standard Powers of Attorney (“PA”) A standard Power of Attorney is required when …
Why family trusts should be reviewed Family trust structures are a popular asset protection and succession planning tool in New Zealand, particularly for those wishing to safeguard valuable assets like investment portfolios. However, the legal and tax landscape is constantly in flux and recent legal, tax and compliance reforms mean many trusts should now be reviewed. …
Incentives for a Trust in light of recent regulatory reforms Read More »
Many people question, what is an independent trustee, what do they do and what value do they bring to my trust? What is an independent trustee? An independent trustee is a person or entity who acts as a trustee of a Trust where that person or entity has no interest in the assets of the …
John Johnson is a 68 year old widower. He has a complying Family Trust that owns the majority of his assets (only his KiwiSaver is in his personal name). The Trust was established several years ago when John operated a business, for creditor protection. On his death, John intends for all his personal assets and …
Ideally, a Will is prepared with a lawyer after careful consideration. Someone facing imminent death or decline may want to urgently prepare a new Will or update their current Will. These Wills are often referred to as deathbed Wills, last minute Wills or bedside Wills. These Wills are valid if executed properly. Technical Requirements For …
It is important to have Enduring Powers of Attorney (“EPOAs”) in place so that if an unexpected medical event happens the right people can look after you. If you lose your mental capacity and do not have EPOAs in place, it can be a costly, time-consuming and stressful process for your loved ones to legally …
The difference between Enduring Powers of Attorney and PPPR Act orders Read More »
How to avoid disinheriting your children without leaving your new partner high and dry. If you have children from a prior relationship and a new partner it is important your Will balances the needs of your partner and children and each of their potential claims against your estate. Family Protection Act 1955 obligations Under the …
A well drafted Will reduces the time, money and stress of administering your estate when you pass. At Holland Beckett, we take the time to ensure that your Will suits your circumstances, while keeping it simple. Below are our top 5 tips to ensure that your Will is fit for purpose: 1. Choose the right …
