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What happens when there is no Will?

Losing a loved one is such a difficult time and it can be extremely overwhelming. When there is no Will, it can cause even more stress. In this blog, we look at what happens when there is no Will.In the instance of someone passing away without a Will, the legal term is called intestacy. What happens next depends on how much they have.Small Estates – Less than $15,000 in assets (per institution)  If the person who has passed has less than $15,000 from each institution (such as savings, sha...

Why do I need a Will?

Having a Will sorted will give you and your loved ones peace of mind. What do you want to happen when you die? Are those you care about looked after? What to you want to happen with your belongings and those that depend on you including your pets? In this article we cover what you need to know about setting up a Will. ...

What is an Enduring Power of Attorney (EPA)?

What would you want to happen if you lose the ability to make decisions for yourself? Are your wishes for your personal care and welfare known? Will your property be protected and looked after? Here, we look at Enduring Power of Attorney (EPA) and what you need to know....

​Relocation runs smooth with Kathryn

With a family relocation to Auckland on the cards, Greg Caie engaged the help of Kathryn Horton to assist with multiple property transactions....

Helping your child into their first home

In this crazy property market, it’s pretty common to hear of the struggles people face in securing their first home. With an extremely competitive market, stricter lending criteria and colossal prices, you may have a family member (most likely a child) in this situation. If you’re in a position to offer financial help, there are several options you could consider. In this blog post, we weigh up your options for how to help a child or other family member into property. ...

Understanding Enduring Powers of Attorney

David and Kathy recently came in to ask about Enduring Powers of Attorney. Kathy handles most of the finances for the farm and David is worried that if something happens to Kathy, he won’t be able to look after that side of the business. Kathy is worried that if David is seriously injured on the farm, someone needs to be able to make the decisions for his welfare. David and Kathy’s son is about to turn 18 and they wondered what would happen if he was injured and someone needed to make  ...

Do you still really need your Trust?

Will and Kate have heard about a new Trusts Act that comes into for on 30 January 2021.Will and Kate have been married for 25 years and have 2 children together – their son Harry who they are very close to and their daughter, Meghan, who they are estranged from. Will and Kate settled a Trust many years ago, while they were dairy farmers. At the time they owned a large farm and had many workers working for them. About ten years ago they sold the farm and have since retired onto a small lif...

Providing for a Blended Family Upon One’s Death

Join Nicole as she explains what happens in this certain scenario. If you are in a similar situation, we are here to help you. Get in touch with one of the team today....

Correctly Administering Your Trust

How to ensure that your trust is administered correctly.Following on from Shelley's previous video, she is here to talk about what you need to do to ensure that your trust is administered correctly if you have decided to keep it.If you have any questions about updating your trust, you can call us and we will be happy to help. ...

Dying without a Will in NZ

Nicole is here to explain what happens.Our solicitor, Nicole is back to explain what happens if you were to die without a Will in New Zealand.If you've been meaning to get started on your personalised Will, but just have never got around to it, here's your chance....

Do I Need To Keep My Trust?

Have you been wondering if you need to keep your trust? Shelley is here to explain to you whether or not you need to! At Gallie Miles Lawyers, we are happy to answer any questions that you may have....

Trusts don't necessarily protect your assets from a relationship claim

Our Director, Kirsty is here to talk to you about trusts. She states that trusts don't necessarily protect your assets from a relationship property claim. Watch the video to find out why. If you would like some advice as to whether your trust is protecting your assets from a relationship property claim, contact us today....

What you need to know: Buying Property off the Plans

With residential land and housing in short supply, and an incredibly competitive housing market, buying a new home off the plans is becoming more and more common. Here we look at what you need to know and when to seek legal advice, so you don’t end up out of pocket....

What are the benefits of having a Will?

While creating a Will may be a cost that most try to avoid, it provides many benefits to the loved ones you leave behind.A common misconception is that if you die intestate (e.g. die without a will) everything you own will automatically go to your partner and/or children.  If you die intestate and hold assets over the value of $15,000.00 the estate will need to apply to the High Court for Letters of Administration to appoint a personal representative, otherwise known as an Administrato...

Rural Roundup

A trust settled during a relationship will be unlikely to protect the assets that have been transferred into that trust.It is a fairly common misperception that a family trust is an effective barrier to all relationship property claims by an ex-spouse or ex-partner of a beneficiary of a trust. Unfortunately, this is not always the case. A trust settled during a relationship will be unlikely to protect the assets that have been transferred into that trust during the relationship.A trust that was ...

De Facto Relationships

When it comes to dividing up relationship property, you may ask what constitutes a de facto relationship?A de facto relationship exists only when both parties are aged at least 18 and they are living together as a couple, but are not married to each other or in a civil union. These are the essential but not the only factors that go to determining whether a relationship is or has been de facto.When deciding, the court will consider all the relevant circumstances, which may include:the length of t...

The Difference Between an Asset and a Liability

In business, the more your assets outweigh your liabilities, the stronger the financial health of your business.An asset is something you buy as an investment because it has the potential to become more valuable in time by being sold for a higher price, or because it produces a regular income or it can even be both. An asset puts money in your pocket.On the other hand, a liability is something that drains money from your pockets. Most things we buy each day are liabilities, but the goal of inves...

The Difference Between a Settlor, a Trustee and a Beneficiary

Ever wondered who is involved in a trust? We are breaking down the roles for you to easily understand.SettlorA settlor is a person or company that creates the trust. There can be more than one settlor of a trust.TrusteesThe trustees are the people who manage the trust. The settlor can also be a trustee. It can also be a good idea to appoint an independent trustee who is not a relative. For example, professionals like a lawyer or accountant. BeneficiariesThe beneficiaries are the people who benef...

The Difference Between Relationship Property and Separate Property

When it comes to living together, being clear about what is relationship property and what is separate property is important.The difference between the two terms is that relationship property is all property acquired by either partner during the relationship. This includes your home, cars, household furniture, and appliances.Separate property can be property owned before the relationship, inheritances, and gifts from others, including from a trust.If you and your partner are to separate after li...

The Difference Between an Enduring Power of Attorney (Property) and an Enduring Power of Attorney (Personal Care & Welfare)

Do you know what an Enduring Power of Attorney is and what they do?First of all, let's mention what an attorney does. They are someone you give the power to make decisions if you're unable to.The key difference between the two is that an Enduring Power of Attorney for Property only grants the attorney the authority to handle property and financial matters.Whereas as an Enduring Power of Attorney for Personal Care & Welfare gives them the authority to make decisions about your lifestyle, medi...

What is Asset Protection?

Ever wondered what asset protection is and if you would ever need it?Asset protection is a way to protect yourselves and families against a financial loss from any unexpected claim. This might come about if you are sued, prosecuted, or as a result of a business failure.Assets that you can protect can include:PropertiesVehiclesStockCompany SharesIf you have any further questions, get in touch with one of the team today.CONTACT US ...

Property counteroffers – don’t get caught out

With a hot property market like New Zealand’s, it is common to see some back-and-forth negotiation on price, including making a counteroffer. In this blog we drill down into a recent High Court case, which saw a seller sign a counteroffer for $200,000 less than they were prepared to accept for their property, and which the Court ruled was legally binding....

Relationship Property and Trusts

How much can you really trust your trust? Is your trust still protecting your assets including your family farm and business?Many of you will be aware that there have been recent changes to New Zealand trust law. But are you aware of the risks your trust may face with respect to a relationship property claim? There is a common misconception that if you have a family trust owning assets, such as the family farm, it will protect those assets from a relationship property claim. Unfortunat...

What happens if I die without a Will?

There is a common misconception in New Zealand that if you die without a Will, the government will take all of your assets.There is a common misconception in New Zealand that if you die without a Will, the government will take all of your assets. This is not quite the case. Take Morgan as an example.Morgan owns a large life style block, farming equipment, Kiwisaver and other small shares and investments. He has a rocky relationship with his parents but a wonderful wife, Kayla. Tragically Morgan ...

The Blended Family

“How do I make sure that, my assets are distribute in the way I intended when I die?"Blended families are becoming more and more common in New Zealand. This means we are often asked “how do I make sure  that, my assets are distribute in the way I intended when I die”? Take this scenario as an example:Georgia has two children (Aimee and Sam) with her former husband. Georgia meets Andrew who has one child (Chelsea). Together Georgia and Andrew get married, and buy a house (“the Family...