From 1 July 2018 lawyers in New Zealand will fall under the requirements of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT). The purpose of this law reflects New Zealand’s commitment to the international initiative to counter the impact that criminal activity has on people and economies within the global community.

New Zealanders on a per capita basis are one of world’s leading users of trusts as an asset owning entity. Frequently though, they are often misunderstood by those individuals who form them. MDS Law has put together a simple guide explaining what a trust is, the roles within a trust and the benefits of such an entity. Individuals reading this should also seek advice from their lawyer should they wish to consider forming a family trust.

We all like to be in control of our own lives and protect our assets yet many of us do not like to think about our death. Making a will is often something you will consider later. NOT having a will can be costly and lead to stress and confusion for your loved ones in the event of your death.

The abolition of gift duty took effect from 1 October 2011. In this article we discuss the implications arising from the abolition.