Estate Planning Checklist
Victoria University of Wellington; Monash University; Institut für Österreichisches und Internationales Steuerrecht, Wirtschaftsuniversität Wien
Febuary 1, 2010
New Zealand Law Journal, p. 78, 1979
A complete and detailed examination of the client’s financial affairs is necessary for estate planning to be effective. The matters to be borne in mind include: estate duties; gift duties; the client’s items of property; the client’s taxable income; cash flow of the client’s business; and the income and asset position of the client’s partner and family.
As at 2009, much of the substantive law discussed in this note has been amended or repealed. In particular, while the Estate and Gift Duties Act 1968 is still on the statute book, the rates of the estate duty are now zero, in effect abolishing the tax. Nevertheless, the practical methodology suggested for advising personal clients remains of use for practitioners today.
Number of Pages in PDF File: 4
Keywords: Estate planning, estate duty, gift duty, will, checklist, New Zealand, lawyer/client relationship, managing personal assets.
JEL Classification: K11, K34Accepted Paper Series
Date posted: February 1, 2010 ; Last revised: July 11, 2011
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