Costs of Settlement vs Cost of Litigation When Separating
We often advise on the benefits of settlement. Initial costs of settlement may seem high in the scheme of day-to-day expenses. However, these costs are dwarfed in comparison to the costs of litigation. With a separation, when looking to settle what exactly are the costs associated with settlement? A large portion of your costs will be associated with the drafting of a relationship property agreement. This agreement will provide a background of the relationship and separation.
DIY Relationship Property - What You Need to Know
Relationship Property DIY – It can be costly! As they say at Mitre 10: “DIY…it’s in our DNA!” But, when it comes to dividing relationship property following separation, DIY can be a costly mistake. The Property (Relationships) Act 1976 sets out the law relating to the division of property in the event of separation. It lays out the general expectation of equal sharing between couples. The Act also provides that couples can make their own rules relating to the division of prop
Wills - What You Need to Know
What is a Will? Your will is your last wishes detailing how you would like your assets to be distributed and who will look after the people you love. This legal document also specifies who you appoint to be responsible for carrying out these wishes when you are gone. Why do you need a Will? Everyone should have a valid will to ensure the management of your estate is handled with no complications and makes for an easy administration process following your death. If you pass w
Relationship Property and The Death of a Partner
Where one spouse dies leaving a spouse or defacto partner, the surviving spouse or defacto partner has two choices. They can choose to either: (a) to apply for a division of relationship property under the Property (Relationships) Act 1976 (“the Act”); or (b) take under their deceased partner’s will or the laws of intestacy. This can be a very important choice for the surviving spouse or defacto partner if they have not been provided for in their deceased partner’s Will.
Do you have a will? What it means to die intestate.
Your will sets out your instructions on how you want your property, known as your estate, shared out when you die and how you want your dependants, such as your partner or children, to be looked after. Having a valid will in place when you die can reduce the amount of financial and emotional stress on your family, and can reduce the possibility of a dispute arising over your estate. If you are over 18 years of age and of sound mind, then you are able to make a will. There
Can a Will Be Challenged? Estate Claims & Legal Rights in New Zealand
Many people take comfort in having a will that expresses their final wishes, believing that upon their death the instructions they have set
Wills & Powers of Attorney
In our life time we all manage to establish something whether it be a property, a business or simply even savings, we still have interests that we would like to see protected. The easiest way to do so is to make sure you have a valid Will. Your Will is one of the most valuable legal documents you’ll create. Your Will sets out your wishes for how your affairs are to be managed after you are gone. A Will provides for the executors who are nominated by yourself to carry out wis