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Estate Planning Law in Christchurch, New Zealand focuses primarily on providing a comprehensive roadmap for the allocation of a person's assets after their death. This process includes the creating of documents like wills, trusts, powers of attorney, and establishing a plan for end-of-life decisions. The aim is to ensure that an individual's wishes are strictly followed and to minimise the stress on the family members during their time of grieving.
While it is possible to write a will or set up an estate plan on your own, complex situations might warrant hiring an experienced lawyer. If you have a vast or complex estate, a taxable estate, own a business, or want to leave a part of your wealth to charity, professional advice could prove invaluable. Lawyers can also help navigate complicated family situations, ensure your wishes are accurately and legally recorded, and help avoid or manage disputes between beneficiaries.
Under New Zealand law, including Christchurch, everyone aged 18 or over is allowed to make a will. In the absence of a will, the Administration Act 1969 regulates how the estate would be distributed. Trusts are also a widely used legal device for estate planning, governed by Trusts Act 2019. Seeking the right advice can help you understand the implications of gifting, the role of trustees, and the legal implications of these decisions.
If you die without a will, the law decides how your assets will be divided, which might not align with your wishes. It is thus crucial to have a proper estate plan to ensure your wealth is distributed according to your preferences.
Yes, you have the right to update your will whenever you wish. Life events like marriage, divorce, or the birth of children may warrant updating your will.
A Power of Attorney allows someone else to legally make decisions on your behalf when you are unable to do so yourself.
A Trust is a legal entity you can create to protect assets, often used where there are minor children or a wish to control how an inheritance is spent.
Ideally, estate planning should start as early as possible. Whether yours is a small or large estate, having a comprehensive plan helps simplify the administrative process after your death and ensures your wishes are respected.
You can seek guidance from the New Zealand Law Society and Office of the Public Trustee. There are also several non-profit organisations that provide legal help to the residents of Christchurch, like Community Law Canterbury.
If you need legal assistance in estate planning, the best path is usually to seek legal advice from an estate planning lawyer or firm. They can provide you with the appropriate advice tailored to your specific needs and circumstances. Remember to bring all relevant documents such as property deeds, financial statements, and existing legal documents to your consultation.
