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W & K

Family Trusts

What has happened with the Recent IPO’s?

The largest New Zealand IPOs since the beginning of 2013 have been the partial sell downs of the state owned assets, namely Mighty River Power, Meridian Energy, Genesis Energy and Air New Zealand.

User Pays for Rest Home Care

One analogy that we have recently heard concerns retirement care. If you have ever flown Economy Class on a long haul flight and looked with envy at the First Class passengers enjoying their extra leg room, fancy meals with real plates and cutlery and personalised service, you will know what it will probably be like in rest homes and retirement villages of the not too distant future. Undoubtedly there will be different service levels offered.

A Messy Freud

Recently a prominent Auckland Financial Adviser was rightfully criticised in court for his handling of a $1.4M estate. The will stipulated that the deceased wife (who was his second wife) should have a life income interest in the estate, and that the children of the man receive the balance of the estate upon the second wife’s death. The adviser was an Executor, Trustee and the financial adviser for the estate. The second wife was also an Executor and Trustee.

Investment Holdings

Last week, TV3 political editor Paddy Gow broke the news that Labour Party Leader David Cunliffe had a pecuniary interest in investments that he hadn’t initially declared in a trust, namely ICSL. To some of us in the industry, it was obvious that Gow was technically wrong and did not properly understand the relationship that Cunliffe had with ICSL. It is not a trust!

Some Relationship Property Basics

24 Sep 2013

It is well known that at least a third of marriages and de facto relationships fail. Being aware of the financial consequences of the end of relationship means you can put in place strategies to protect the property you acquired before the relationship and protect your rights to a share of property acquired during the relationship.

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