New information requirements by the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 for law firm clients from 1 July 2018

New Zealand has passed a law called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“the AML/CFT law” for short). The purpose of the 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. From 1 July 2018, lawyers must comply with its requirements. To make that assessment, lawyers must obtain and verify information from prospective and existing clients about a range of things. This is part of what the AML/CFT law calls “customer due diligence”. CUSTOMER DUE DILIGENCE REQUIREMENTS Before providing services to [...]

New information requirements by the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 for law firm clients from 1 July 2018 2018-07-26T05:13:59+00:00

Focus Law organized the second Family Law Seminar in ANZ

We held the second Family Law Seminar with ANZ at the Pavilion on 7 November 2017.   Unlike last time the audience was only ANZ internal staff members and we delivered the contents in English.   We had had a spirited exchange during the Q & A session with the 70+ audience. If you wish to obtain further relevant information on this topic, please contact our professional team at Focus Law.

Focus Law organized the second Family Law Seminar in ANZ 2018-02-18T23:04:14+00:00

Don’t Trust Your Trust

Setting up family trusts is now a common practice. It has many advantages, one of which is asset protection. Assets transferred to a trust are not relationship property as it is no longer owned by you, but by the trust, though you can allocate yourself and anyone you like as beneficiaries. However, too many people do not understand how trusts work and that they are not ‘divorce-proof’ solutions. As a result, too many people fail to plan early enough.   Courts are able to set aside a disposition (placing of property into a trust) which was intended to defeat the rights [...]

Don’t Trust Your Trust 2018-02-18T23:02:16+00:00

Brief instruction to Contracting-Out Agreements and Separation Agreements

-Can partners make their own private agreement on how to divide their property without going to Court? We learned in our previous article that when a relationship longer than 3 years ends, the court will divide relationship property equally according to Property Relationship Act 1976.   It is often not as easy as it sounds, because it can involve many complicated issues when determining what is or is not included in the relationship property or relationship debt.   The Part 6 (s21-21T) of the Act allows spouses or partners to decide themselves how their relationship property is to be divided without [...]

Brief instruction to Contracting-Out Agreements and Separation Agreements 2018-03-22T21:14:07+00:00

Wills & Estate in New Zealand

What is a Will? A Will is an ambulatory document - a legal document that you may amend as many times as you wish during your lifetime as things change. It takes effect only after your death. A Will is your financial deposition to your love ones and a set of instructions on how your assets are to be distributed and as well as directions on funeral & burial matters.   Why do we need a will?   Our future is uncertain, so we need to plan ahead.  A Will is your set of instructions for the future – it saves [...]

Wills & Estate in New Zealand 2018-03-22T21:14:25+00:00