Questions and answers about Succession Law
I have agreed to be the executor for a friend’s estate. I want to do a good job, but I am worried about getting something wrong and being personally liable. What exactly is expected of me? Nobody has given me a straight answer and I want to understand where I actually stand.
I have just inherited a sum of money and some shares from a relative’s estate. Someone told me that inheritances are taxed heavily in some countries. Do I have to pay any tax on what I receive in New Zealand?
I want to leave my estate to my two young children in my will, but I am concerned about them receiving a large amount of money at eighteen. Can I set up something that manages the inheritance until they are older?
I have been named executor in my aunt’s will and I am told I need to get probate before I can deal with her bank accounts and property. I have never done this before. What is probate and how do I apply?
What happens if there are not enough assets to cover a specific gift in a will? 1 answer
1 answerMy uncle’s will left a specific amount of money to several nieces and nephews, plus a house to one sibling, but after debts and expenses were paid there does not seem to be enough left to pay all the cash gifts in full. How is this resolved?
My mother passed away with some credit card debt and a small personal loan outstanding, and I am worried that as her child I might have to pay these debts personally. What is the legal position on inherited debt?
My father remarried late in life, does his new spouse inherit everything? 1 answer
1 answerMy father remarried a few years before he died, without updating his old will, which left everything to me and my siblings. Does the new marriage affect the old will, and what does his new wife inherit?
My father passed away recently and, as far as we know, he never made a will. We do not know what happens to his house, savings and belongings, or who is legally allowed to deal with his affairs. How does the law decide this?
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