Contract and Commercial Law Act 2017

Monday, April 10, 2017

Passed on 1 March 2017, the Contract and Commercial Law Act 2017 ("CCLA") represents a step taken by our Parliament to consolidate and modernise New Zealand's law relating to contracts and sales.  The CCLA will come into force on 1 September 2017. Read more

Providing Financial Services or Financial Products in New Zealand

Thursday, April 06, 2017

There are a large number of statutes that potentially apply to any business providing financial services or products in New Zealand.  We are aware from prosecutions by regulators and from assistance that we have provided to clients, that many people are unaware of the full compliance requirements that relate to their business.  In some cases, businesses may comply with one statute, but are unaware that there are other statutes that apply. Read more

Are You Getting Your Fair Share of Relationship Property Upon a Break Up?

Thursday, April 06, 2017

The Property (Relationships) Act 1976 ("the Act") applies to marriages, civil unions and de facto relationships.  Generally under the Act, at the end of one of these relationships, the parties receive a 50:50 share of all the relationship property.  This usually includes the home, family chattels, and all other property acquired during the relationship.  However the Court does have the power to award a lump sum payment or order the transfer of relationship property from one party in the relationship to the other under Section 15 of the Act. Read more

Will That Do? - Validation of Non-Compliant Wills

Tuesday, March 21, 2017

Before a deceased's last will can have the legal effect of distributing property to his or her heirs accordingly to its terms, it must be admitted to probate, that is accepted by the High Court as being valid. Read more

The New Draft Trusts Bill and its Suggested Disclosure Rules - How Could This Affect You?

Thursday, March 16, 2017

A new Trusts Bill has recently been released for public consultation.  This bill updates and changes various aspects of trust law.  One interesting proposed change is the rights beneficiaries have to trust information.  The most recent judicial case involving beneficiaries and trust information is Erceg v Erceg [2017] NZSC 28.  The Supreme Court did not find that there was a presumption for or against disclosure of trust documents, but that there is an "expectation that basic trust information will be disclosed to a close beneficiary who wants it".  The Supreme Court's analysis did differ from the lower Courts.  The Supreme Court listed certain factors to take into consideration when courts receive a request for disclosure.  They are: Read more

Are You Entitled To Value From Your (Soon-to-Be) Ex-Spouse's or Ex-Partner's Trust?

Monday, March 13, 2017

What happens if your relationship ends and your spouse/partner has previously settled property in a trust?  If the trust is valid, and there have been no dispositions to which the Property (Relationships) Act 1976 applies, there are two ways you may make a claim against that property. Read more

"Buying or Selling a Property? Five Things to Think About"

Thursday, March 09, 2017

Your home is likely to be the biggest asset you ever own, and although buying and selling property is an exciting venture, there are several things that should be kept in mind before entering into a property transaction.  Here is a list of our top five things to consider before your sale and purchase agreement goes unconditional: Read more

Casual Friday Donations

Wednesday, March 08, 2017

Every Friday at McVeagh Fleming is a "Casual Friday" when smart, comfortable attire can be worn on the condition that staff who are in casual clothing pay a donation.  The Partners of the firm match the staff's contribution dollar for dollar each week.  For every $1,000.00 reached, a draw of the participating staff is held and a donation is made towards a charity of the staff member's choosing. Read more

"Unpaid Invoices - Want to Understand Your Options"

Wednesday, March 08, 2017

At one time or another, all businesses confront the unpleasant task of collecting outstanding fees for the services or products they have provided.  When a client refuses to pay an outstanding invoice, recovering the money due may turn into a drawn-out process, even when the amount owed appears un-contentious.  Engaging a solicitor to assist with the debt recovery process has the benefit of both impressing on the debtor your commitment to pursuing the debt and simplifying an otherwise frustrating process. Read more

Changes to Enduring Powers of Attorney

Wednesday, March 08, 2017

On 16 March 2017 changes to the Protection of Personal Property Rights Act 1988 come into effect.  Some of these changes affect how Enduring Powers of Attorney ("EPOA") are made, and others affect how they operate.  If you have any unsigned EPOAs drafted and they are not fully executed by this date, they will be invalid and will need re-drafting.  EPOAs fully executed prior to 16 March 2017 remain valid.  Please urgently contact us if you wish to finalise documents prior to 16 March 2017. Read more

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