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Estate Articles
FAMILY PROTECTION CLAIMS
If you are the spouse, partner, parent, child, grandchild or step-child of a person who has died, then you may have a claim against their estate under the Family Protection Act. A successful claimant must establish need and the lack of proper maintenance and support from the deceased’s estate. The grounds for successful claims have been varied and some decisions have referred to a breach of "moral duty". We have noticed an increase in the number of enquiries, particularly in relation to the rights of children of a first marriage where their surviving parent has subsequently remarried. In these circumstances, the will maker is often required to make difficult decisions balancing the claims of children of the first marriage against the claims of a second spouse or partner.
Claims under the Family Protection Act are subject to specific time limits and it is very important to comply with them. In addition, if notice of a claim is given, then time starts to run from the date of that notice. It is critical that time limits in relation to the claim be complied with, failing which the estate can be distributed. This can make recovery extremely difficult.
For assistance with bringing or defending Family Protection Act claims contact Lesley Grant on 04 570 4180 or lagrant@gywlaw.co.nz
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WHERE THERE'S A WILL, THERE'S A RELATIVE!
How many people put off the preparation or up-dating of a will? "I must do it but I'm fit and well and it can wait, I don't plan to die for at least another 30 years". Unfortunately, life (and death) often don't work like this. People die unexpectedly. Circumstances in life can quickly change - partners die, people separate and marriages dissolve. Usually, a marriage or remarriage revokes any will you have made.
Another comment people often make is "I have nothing to leave anyway". But it is surprising how soon people can acquire assets, which you may specifically want to be left to a particular person.
The preparation of a will is an integral part of estate planning, preserving the family assets and protecting your family upon your death.
There are many reasons why you need a will irrespective of your age, or your circumstances:
- To avoid the extra legal cost and delays of an intestate estate (an estate distributed by law, due to the
absence of a will). It is invariably easier and cheaper to deal with a person's assets when a will is in
existence.
- To prevent your assets being left to people other than those you wish to benefit. A regime for distribution
applies to intestate estates but it may be very different from what you want.
- To provide certainty as to your intentions. A will provides a clear picture of your most recent wishes and can avoid family acrimony or dispute.
- To ensure that the care and welfare of your children will be as you intend. Everyone's circumstances are different and a will can ensure your dependent children's needs will be met.
- To ensure your children are protected if your spouse or partner should remarry or enter into a new relationship.
- To protect the assets in your estate from attack.
- To enable you to choose your own trustees and executors. There may be a particular family member or friend who you wish to nominate to fill this important role.
- To make specific bequests to friends or charities.
- To stipulate your particular wishes regarding burial or cremation and guardianship.
- If you have just established a family trust.
If you would like a new will prepared contact Lesley Grant on 04 570 4180 or lagrant@gywlaw.co.nz
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