Published 25th February 2019 by Chris Kelly, Greg Kelly Law Ltd
It’s a time-consuming and expensive process if you don’t have an EPA
Most people are now aware of the importance of having an enduring power of attorney (EPA). If you are unable to make decisions for yourself at any stage (either temporarily or longer term) it is important there is someone in place to act on your behalf. What happens to you, and your family situation, if you have no EPA?
Ensuring you have EPAs (for property and for your health and welfare) is a very important part of keeping your personal affairs in order. An EPA can be used if you are out of the country for a long time and you need someone to keep an eye on your financial affairs, or if you become mentally incapacitated and cannot look after your property or yourself.
Published 25th February 2019 by Colette Mackenzie, Greg Kelly Law Ltd
Helping your children – with care
Contributions by family members to the purchase of a property and how this is recorded can affect property ownership. We discuss how you can help your children and, at the same time, lessen the risks to you as parents.
New Zealand houses have never been more unaffordable: in the 1950s to 1980s a house cost two to three times the average household income. In the 1990s it was four times the average, and by the 2000s it was up to six times the average household income. When you add in the fact that households are now far more likely to have two incomes (compared with the single income norm of the 1950s), housing looks even less affordable.
Published 25th February 2019 by Kimberly Lawrence, Greg Kelly Law Ltd
What the future may hold for separating couples with a trust
When a marriage, civil union or de facto relationship breaks down, the couple will usually divide their property according to the Property (Relationships) Act 1976 (the PRA). However, these two people often hold property in a trust rather than personally.
The PRA has limited remedies to access property which has been put in a trust, and this can result in unfairness when a couple separates if there are no assets that they own personally.
The Law Commission has undertaken a review of the PRA and proposed that the legislation be changed to make it easier to access trust property when a couple separates.
Published 26th February 2018 by Kimberly Lawrence, Greg Kelly Law Ltd
It can be an unpleasant surprise
Published 26th February 2018 by Chris Kelly, Greg Kelly Law Ltd
As parents age, their children often find they need to take an increasing role in looking after them.
Published 26th February 2018 by Greg Kelly, Greg Kelly Law Ltd
Entitlements under your spouse or partner’s will
Published 2nd October 2017 by Kimberly Lawrence, Greg Kelly Law Ltd
The long-awaited Trusts Bill was introduced to Parliament on 1 August 2017. The Bill is largely an update and restatement of the Trustee Act 1956 and the common law.
Published 2nd October 2017 by Chris Kelly, Greg Kelly Law Ltd
When Barack Obama was US president, he made an historic visit to Africa. One of the messages he repeated was that, under the US Constitution, he could only be president...
Published 2nd October 2017 by Greg Kelly, Greg Kelly Law Ltd
Many people agree to act as trustees of trusts set up by friends or relatives on the basis that they wish to help out or assist their friend or relative...