The number of companies going into liquidation in New Zealand is on the rise. Did you know that payments made by a company before it goes into liquidation may also be at risk?
In August 2024, the government announced that it would progress a package of reforms to the Companies Act 1993 and related legislation. They are designed to address several issues and make New Zealand an easier and safer place to do business.
Despite the short-term nature of these roles, if you hire staff on a casual basis you still have significant legal responsibilities. This is highlighted in a recent case before the Employment Relations Authority.
Contracting out agreements can be entered into at any time during a relationship and are particularly useful for couples entering into a de facto relationship, or marrying later in life, as both parties are more likely to come to the relationship with more complex financial affairs.
When a parent dies and leaves their child or children out of their will, those children are entitled to bring a claim against their parent’s estate under the Family Protection Act 1955 (FPA). While a financially stable adult child may not have a claim to a large proportion of their parent’s estate, they will usually still have a claim for ‘recognition.’ The same is not true for children claiming against the estate of a stepparent.
It has been said that preparing for death is an act of love. Think of it as a gift to those you are leaving behind. It can bring clarity for loved ones during an emotional and challenging time and ensure your wishes are carried out. It doesn’t have to be a difficult process, so don’t put it off.
