Preparing a will means that a person can be reassured that on their death, their assets will be distributed according to their wishes. You should draft your will as you think is appropriate for your family. However, as a will maker, you must be mindful of your legislative duty to make adequate provision for all members of your family.
We are often asked by parents how they can protect the inheritance they will provide for their children – keeping it safe from relationship property and creditor claims. Written by Mary Joy Simpson.
There have been a number of recent cases where beneficiaries have gone to court to seek information about the activities of a trust of which they are a beneficiary. The cases have helped shed light on what and how much a beneficiary is entitled to know about the inner workings of a trust from which they stand to benefit from.
The New Zealand government may have been viewed by some as Santa heralding Christmas early when it announced in November 2010 that the 125 year old gift duty will be abolished effective 1 October 2011. But what does it mean for the small business owner? Does it really herald a better opportunity to shield family assets from potential business risks?
Everybody knows that it is important to have a will in place. Likewise, appointing someone to act on your behalf if you lose mental capacity is very important. As part of an estate planning "health check", Hesketh Henry has always recommended that clients have in place enduring powers of attorney (“EPA”) appointing people – whether friends or family members - to act on their behalf in relation to property and in relation to personal care and welfare matters should they lose mental capacity