The government has adjusted the probate threshold to make distribution of smaller estates easier In New Zealand, probate is a legal process under which a High Court application is made to validate a deceased person's will and authorise the executor(s) to administer the estate. Probate ...

The Supreme Court has clarified the boundaries of its landmark decision in Clayton v Clayton by issuing its decision in Cooper v Pinney, which relates to the classification of rights and powers in relation to a family trust on the break down of a relationship ...

Settlors of trusts and will-makers need to be aware that if they move overseas or if any of their trustees, executors or beneficiaries move overseas, there could be tax consequences for their trust, their estate and beneficiaries. Specialist advice should be obtained if this has ...

The Trusts Act 2019 has extended the maximum potential 'lifetime' of trusts from 80 years to 125 years. The Trusts Act 2019 (Act) came into force in 2021 and introduced a number of changes to trust law in New Zealand. Under the Act it is ...

Businesses need to be aware of both independent and collective trustee liability under the Health and Safety at Work Act 2015 It is a widely known and accepted legal principle that a trust is not a legal entity, but rather a legal relationship between the ...

The Select Committee has recently released its report on its review of the Local Government Official Information and Meetings Amendment Bill (Bill). The Bill is set to improve the Local Government Official Information and Meetings Act 1987 (Act) through the introduction of: the requirement for ...

The Trusts Act 2019 (Act) came into force on 30 January 2021 and now is the time for clients to be reviewing their trust, if they have not done so already. Previous editions of this newsletter have outlined that the Act was introduced to modernise ...

The Trusts Act 2019 (Act) comes into force on 30 January 2021 and makes a number of changes to trust law in New Zealand. It will have an impact on existing and new trusts. Some of the key changes include; the introduction of five mandatory ...

After much anticipation, the Trusts Bill obtained Royal assent on 30 July 2019, the final stage in becoming an Act of parliament, and is now the Trusts Act 2019 (the Act). The Act makes important changes to trust law in New Zealand and replaces the ...

Residential land withholding tax (RLWT) came into effect on 1 July 2016.  The RLWT regime is part of a suite of recent regulatory reforms that relate to residential property transactions. The reforms already in place include: The introduction of a "bright line" test which requires ...

Building and Housing Minister Dr Nick Smith announced on Thursday 9 July that the Government is proposing to amend the Residential Tenancies Act 1986 to improve rental standards and tenancy services. For many landlords the proposed changes will be significant. The proposed changes are: a ...

Yesterday Prime Minister John Key confirmed that this week's Budget will include a number of new tax rules for people buying and selling residential property. Most significantly, the rules will include: Requiring non-residents and New Zealanders buying and selling property (other than their main home) ...