Probate threshold changes in New Zealand Since 2009, New Zealand has required a formal High Court probate application for any estates where a sole-owned asset exceeded $15,000 – no matter how small the estate was overall. This probate threshold was set long before the rise of KiwiSaver and has long been regarded as outdated. That…
Not every client’s legacy ends up in a museum. Recently, Matthew and Samantha from the Sharp Tudhope Trust team made a special visit to the Auckland War Memorial Museum — not just to see the exhibits, but to go behind the scenes and view the butterfly collection of former client Ray Shannon. The visit offered…
Why Wills Aren’t Enough: Planning for Incapacity Let’s say you have taken the time recently to sign a Will with your lawyer. You tuck it away in a drawer and know that when you die, your assets will be distributed and dealt with in accordance with your wishes. It is an important and essential part…
When Should You Update Your Will? Creating a will is a crucial step in ensuring your estate is managed according to your wishes after you pass away. However, drafting a will isn’t a one-time task—it’s an ongoing process. Life changes, legal updates, and evolving personal circumstances can all require revisions. Knowing when and how often…
Life is full of changes. Whether you are moving in, getting married, buying a business, starting a family, getting divorced, planning for retirement – there’s a lot to think about and deciding what happens on your death often gets pushed to the back of the list. You may be wondering why you need a will?…
If you have retired, the children have left home, and your home is slowly becoming more of a hindrance than a joy, it is a good time to explore “downsizing” and enjoying the golden years with peace of mind. A retirement village can be a good option. What is a Retirement Village? A retirement village…
A badly drafted Will can be problematic and lead to family disputes. To be considered valid, your Will must comply with the Wills Act 2007. Outdated Wills that don’t meet your current needs can cause problems for those who survive you. It’s important to remember that the last Will you executed whether it be last…
Under the law, there is a “state of limbo” when married couples separate but are not yet divorced. If you have decided to separate, you should consider the following: You cannot get a divorce (called a dissolution of marriage in the Family Court) until you have been separated for at least two years. If you…
If you pass away and do not have a Will in place, this is called dying ‘intestate’. In this situation, the Administration Act 1969 comes into play and dictates how the next steps are undertaken. Your next of kin will need to apply to the court using a document called ‘Letters of Administration’ and ask…
What happens if you do not have Enduring Powers of Attorney? We all know (or should know) that a valid Will is important to have. A Will comes into effect on your death, appoints who will administer your estate, deals with your assets and liabilities and if valid, prevents an intestacy. Equally important and while…
Why do we need a will? In basic terms, to document who you wish to provide for upon your death and how you’d like your assets to be distributed. Wills also allow you to specify someone you would like to look after your children or to leave special gifts and meaningful things to people or…