Articles about NZ law

Family Trusts: Memorandum of Wishes - how binding are they?

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The growth in the number of discretionary family trusts currently being set up by families has made it more important for the trustees of those trusts to have some directions as to the settlors’ intentions regarding the distribution of trust assets. 

How new Anti Money Laundering (AML) legislation affects our clients

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New  Zealand has passed a law called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the AML/CFT law” for short). The purpose of the law reflects New Zealand’s commitment to the international initiative to counter the impact that criminal activity has on people and economies within the global community.

Extension of the bright-line test to five years

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As part of Budget 2015, the Government announced that it would introduce a bright-line test for the sale of residential property. The new Government has extended the period to five years while maintaining the other policy settings.

Short of money? Debt consolidation can help

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The progress of many families means that over time extra children, business expansion or changing homes and vehicles leads to additional term loans and hire purchases being added to the family housing debt without a comprehensive plan for paying it back.

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