The proposed changes as to how family members can inherit their loved ones’ assets have now been provided to the Government to consider.  This is an area of law that affects most New Zealanders and will impact on families. It is expected to be the biggest change in inheritance law in over 65 years.

The current laws that determine the provision of inheritances are many decades old and do not reflect the make-up of society and the way families are structured today. 

Some of the Law Commission’s major recommendations include:

  1.         Introducing a new piece of law, suggested to be named the Inheritance (Claims Against Estates) Act, to be the                  principal law regarding all claims to Estates. Currently there are 3 major pieces of law that can govern the                        inheritance of Estates.
  2.         Continuing the surviving partner or spouse’s rights to a division of relationship property when their partner dies                  (so long as they have been in a relationship with the deceased for 3 or more years);
  3.         Revising the rules for how an Estate should be distributed when somebody does not have a Will;
  4.         Clarifying when certain family members can claim further property from the Estate despite what the Will says;
  5.         Providing that Tikanga Māori should determine succession to taonga;
  6.         Allowing the Court to recover property when it has passed from the deceased to a third party in a way that leaves            the Estate without enough property to meet any Court decisions made against it; and
  7.         Providing a platform for efficient and effective dispute resolution, both in and out of Court.

We will aim to provide updates on these matters as things develop.

Leading law firms committed to helping clients cost-effectively will have a range of fixed-price Initial Consultations to suit most people’s needs in quickly learning what their options are.  At Rainey Collins we have an experienced team who can answer your questions and put you on the right track.

Shaun Cousins

 


Gender Equality
Super Gold Card 

If you are a New Zealand Super Gold Card Holder (Australian Senior Cards do not qualify) we will give you a 75% discount off the fee for one of our set fee 1 hour initial consultations. We will also give you a 17.5% discount off the first matter we handle for you and then 12.5% off any subsequent matters for you.  These discounts relate to your personal matters only (i.e. not business, trust or organisational matters or the sale and purchase of investment properties).

To receive the discount please let us know if you are a New Zealand Super Gold Card Holder.