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Articles

Having a Trust & Being a Trustee Can be Complex & Take Time to Manage

Trust Administration Service A trust can be a valuable way of protecting assets held for the benefit of others.  Kannangara Thomson recognises that clients may need help with meeting their trust obligations and with the duties of being a trustee. Duties and obligations for trustees are increasing and it can be difficult to keep up…

What You Need to Know About the Trusts Act 2019

What You Need to Know About the Trusts Act 2019 The Trusts Act 2019 came into force on 30 January 2021.  It replaces the Trustee Act 1956 and applies to all existing and future trusts in New Zealand. The Act is intended to make trust law simpler, more transparent, and more accessible to the general…

Family Trusts & Asset Protection

No matter what your financial worth is, a lot of hard work has gone into building your asset base (big or small).  There is an element of risk behind every major personal or financial decision that you make, for example beginning a relationship, starting a business, or buying a house. This is a time to…

Occupying Right Agreements

Retirement Lifestyle villages have a number of different ways that they grant rights of occupation of property to their residents. These are all bound by some government restrictions. Most villages use Occupation Right Agreements. It is important to understand what you are entering into and the specialist elder law Team at Kannangara Thomson can assist…

WINZ Rest Home Subsidies

This is a complex and specialist area covering the circumstances in which individuals can qualify for assistance from the government to pay for the not inconsiderable rest home fees that can be involved where a person is living in a rest home or indeed receiving constant hospital care in the hospital wing of a rest…

What are Enduring Powers of Attorney?

Have you wondered what happens when you can no longer manage your affairs? The Protection of Personal and Property Rights Act 1988 allows you to appoint people you trust to manage your affairs under Enduring Powers of Attorney. These documents come in two forms, one for personal care and welfare and the second for property…

Changes to the Credit Contract and Consumer Finance Act 2003

On 1 December 2021, major changes to the Credit Contract and Consumer Finance Act 2003 (CCCFA) came into force. The changes introduced a raft of new requirements for lenders, which has resulted in a significantly longer and more complex application process for potential borrowers. These changes apply to all applications for consumer credit, including home…

2021 Resident Visa – One-Off Residence Pathway

The New Zealand Government has announced a new one-off residence category, the 2021 Resident Visa. This will enable a large number of work visa holders to remain in New Zealand permanently. The Visa has been created to recognise the contribution migrants have made to New Zealand during COVID-19 and the uncertainly they have faced with closed…

Meet our Founding Partner Stephen Kannangara (now retired)

Stephen Kannangara was one of the founding partners of Cherry Kannangara, now known as Kannangara Thomson. Originally led by Stephen, the team at Kannangara Thomson has drawn on life experiences gained from all corners of the globe with the unique personal histories forming a rich tapestry of wisdom, intelligence and practical thinking. Stephen is of…

When Do I Get The Keys?!

The most common question a purchaser’s solicitor gets asked is “what time will settlement happen and when can we get the keys to our new home?” What you need to be aware of is that there are certain things which need to happen before settlement can occur and more often than not, any delay is…

Final Inspections… Do You Know Your Rights?

If you are buying a home one of the things you should know is that you are entitled as of right to reinspect the home on one occasion prior to possession. The purpose of this inspection is to ensure that you are still getting exactly what you contracted to buy and that there have been…

Why Do I Need a Building Report?

When you buy a home it is likely to be the single biggest investment which you make in your life time for most people. For that reason many buyers choose to have a condition inserted in the agreement for their own protection which allows them to obtain a building inspection report on the property they…

Property Tax Laws

Buying or selling property? There are property tax rules which apply to the sale and purchase of property which was effective from 1 October 2015.  These rules have an effect on all those who buy and sell property including those who have existing family trusts which own property. While all existing tax rules still apply,…

What are Form and Content Clauses?

If you are buying a home you can usually expect a number of further terms or conditions to be inserted into the contract for your protection. This will typically include conditions relating to finance, a land information memorandum and a building inspection report and if buying in post-earthquake Canterbury, an insurance condition and a clause…

Why Should I Pay for a LIM?

Buying a home is the largest investment most of us will make in our lifetimes. There is no substitute for sound legal advice from an experienced conveyancing lawyer at the time of your purchase. In post-earthquake Christchurch in particular there is no longer anything such as a “simple conveyance”, if indeed there ever was such…

Buying a Business – 7 Things You Need To Know

Are You Looking at Buying a Business? In this video Brent Selwyn from Kannangara Thomson shares 7 key points to consider when buying a business. 1. Stock Adjustments Clauses 2. Staff 3. Restraint of Trade 4. Tangible Assets vs Non Tangible Assets 5. The Lease 6. Vendor Assistance 7. Franchise Systems Please contact Brent on…

The Role of Your Lawyer in a Property Transaction

THE ROLE OF YOUR LAWYER IN A PROPERTY TRANSACTION New Zealander’s have a love affair with property and during our lifetimes most of us will own property either for our own occupation or as an investment or both. It is a widely held misconception that conveyancing (the legal aspects of transferring ownership) of property is…

7 Things You Need To Know About Making A Will

Brent Selwyn shares a brand a new video on “7 Things You Need To Know About Making A Will”. If you are thinking about getting a Will then watch this video first. If you’d like help with setting up a Will then please contact Brent Selwyn on 03 377 4421. Thanks for watching – Brent.

Does your home include a toxicity clause?

Are you buying a home? It appears the number of houses contaminated by the preparation or use of drugs is such that at Kannangara Thomson, we feel the need to further protect our clients by including a toxicity clause in the purchase agreement. This clause gives our clients another level of protection and security when…

Do you know the two types of enduring powers of attorney?

There are two types of enduring power of attorney: Enduring power of attorney for personal care and welfare: This type of Enduring Power of Attorney covers your health, accommodation and associated care decisions, and comes into effect only if a medical professional or the Family Court decides you have become ‘mentally incapable’. You may have only one…