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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...