New Zealand’s estate administration rules have recently been updated, making it easier in some situations for families to wind up a loved one’s affairs without applying for probate. These changes aim to reduce unnecessary time and cost for smaller or straightforward estates, while keeping important safeguards in place for more complex matters. WHAT HAS CHANGED? […]
Changes to Probate Requirements: What Families Need to Know Read More »
Recent changes to New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT) have eased compliance requirements for family trusts, particularly when selling property. The reforms, in force from June 2025, respond to long-standing criticism that the old rules placed too much burden on low-risk transactions. What Has Changed Previously, whenever a trust was
Trust Property Sales: Simplified Rules but Ongoing Responsibilities Read More »
We often hear a sigh of relief when a client signs their Will. The assumption of course is “Ok great – that’s over and done with”. No need to think about it again. Unfortunately, that is just not the case. A Will is not something to write and forget. It should be reviewed regularly, especially
Regularly Check Your Will – Why it’s So Important Read More »
The Supreme Court’s recent decision in Cooper v Pinney [2024] NZSC 181 (“Cooper”) has clarified the extent to which trust powers may be considered relationship property under the Property (Relationships) Act 1976 (PRA), refining the scope of its earlier landmark ruling in Clayton v Clayton [2016] NZSC 29 (“Clayton”). THE DIFFERENCES BETWEEN CLAYTON AND COOPER
Clarification of Trust Powers and Relationship Property Read More »
The Trusts Act 2019 outlines two types of trustee duties: compulsory and default. It’s essential for trustees and beneficiaries to understand these responsibilities to ensure the trust functions as intended and complies with the law. COMPULSORY DUTIES The mandatory duties, which cannot be changed or excluded, are foundational to trust management. They ensure that trustees:
Understanding the Trustee Duties under New Zealand’s Trusts Act 2019 Read More »
The death of a partner or spouse is an emotionally challenging time, often compounded by the practical difficulties of managing finances and paying for expenses. Understanding how joint accounts work and the requirements of obtaining probate can help streamline financial matters during such times. In running a busy Estates practice, we often see things happening
Practical steps to avoid financial difficulties after the death of a partner or spouse Read More »
Our office will be closed from 5:00 pm Monday 22 December 2025 and will reopen at 8:30 am on Wednesday 7 January 2026.
Terrace End Law wishes you a happy holiday season!
