July 6, 2026 • 8 mins
Tori Tremaine looks at wills and estate planning.
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Speaker 1 (00:00):
This story is the same one, but.
Speaker 2 (00:04):
I got an emptynst Eve inside.
Speaker 3 (00:09):
This is the muster as we can't chat with Tory
Tremaine of Bannaman, Crookshank Pride, the lawyers based in Gore,
and the new officers and a niceome warm at this
time of year. Good afternoon, Tory, by you're going very well. Firstly,
the new office. You must be wrapped with it.
Speaker 2 (00:27):
Yes, no, it's fantastic, a new space to be in.
So it's very bright and malcoming. So it's a nice
place to be each day.
Speaker 3 (00:36):
Now we're talking today about a couple of topics Tory. Firstly,
purchasing property. You're hearing about the art instance, at the
moment people got a bit of extra money from the
Fontira sale or whatever we got in their capital brands,
saying what am I going to do? So perhaps I'm
going to run off block. So if you're going to
go and purchase something, there's always a bit of Edmund
(00:56):
to go with it as such.
Speaker 2 (00:57):
I suppose, yes, that's right, it's I guess the key
takeaway around when you're looking at purchasing property is to
make sure you've got your dubts in a row. Essentially,
and knowing what you're buying and doing your due diligence
and your homework around the property that you're buying, and
you know what the implications are that go with it. Obviously,
(01:19):
the one's finance and most people will know, you know,
talk to your finance, you know, your lender, or figure
out how that's all going to work. But the other
part of it really is, I guess the structuring behind it,
how that fits with your longer term goals you're planning,
and also around I guess council requirements and whether you
(01:42):
know there's some resource consent issues or you know, everything
like that. That sort of feeds into can I use
the property how I want to use it? As everything
lined up as it should be.
Speaker 4 (01:52):
So there are a few boxes to tick when you're
looking at your purchasing a property, especially a rural property,
but for a residential property there's you know, people keen
to invest off some.
Speaker 2 (02:05):
In some other assets. There's similar due diligence that needs
to go on behind the scenes for practicing residential property
as well.
Speaker 3 (02:13):
Does the resource consent side of things catch people out
when they're buying new property.
Speaker 2 (02:19):
It can do.
Speaker 5 (02:21):
I mean these days there's some fairly good resources around
you know, checking in what consents there are, and most
people who are selling their properties will you know, have
some good disclosure.
Speaker 2 (02:31):
Around what existing consents there are. So it's just making
sure that you know, are familiarizing yourself with what they
are and what's necessary and obviously what there is sufficient
to carry on the operation that you want to carry on.
So most people are well across that, but it is
something that can often be I guess put to one
side and everyone thinks, yeah, she'll be right. On the
(02:54):
odd occasion it's not. So that's just something to add
onto your list of things to just make sure you
check in on as part of any property.
Speaker 3 (03:02):
Purchase these days, it comes down to the should be
right mentality as you talked about, then, Torri, you've just
got to put that on one side and do your
due diligence. Do you backed around checks and just make
sure everything aligns. That's what i'd suggest.
Speaker 2 (03:16):
Absolutely, that's one hundred percent correct, because we do find
that it's when you know, people run into issues when
they're signing up to buy properties, it's it's because something
just hasn't quite happened as it should have, and it
can be you know, it's not always the end of
the world, but it is something that can be relatively important,
(03:36):
and it needs to be something that has resolved, you know,
so that you can go on and actually complete your purchase. Usually,
so it's really just about making sure that you've filled
all those things through and down your I guess, proper
homework around what what it all entails. Because yeah, it
used to be that you could sort of get away
(03:57):
with this, you'll be right and you know, it'll filled
itself out, the red tape and things that exist. Now
that there's a lot harder, and yeah, there are things
that are going to catch you out. They can have
some bigger consequences than historically they have had. So we're
just very mindful of you know, a number one takeaway
(04:18):
I guess around that is don't find anything before we've
run it past us, because often we've been there and
seen that and we can pick those things up that ordinarily,
you know, people won't, So that's really important to remember.
Speaker 3 (04:33):
A state planning is something else to consider. Wills and epas. Now,
EPAS doesn't stand around the Environment Protection Agency, although William's
instances not in this one, though it is indeed the
enduring powers of attorney. We've talked about this before, but
you think it's something that you can't talk about enough
just to get the message through regarding what this is about.
Speaker 2 (04:54):
That's right, and look at it sits alongside every bit
of work we do for a client is we've always
got in their mind too, all right, what's their long
term plan? What's their long term structure? Here in nine
times out of ten or nineteen nine percent of the time,
wills and enduring powers of attorney set in alongside that
as well, because you know, if you own property, even
(05:16):
if it's not a significant or none of property, one
day it could be quite significant. So it's one of
those things that wills are relatively cheap and easy to
put in place. There are situations where they can be
a bit more complicated, of course, but for the most
part they are relatively straightforward, and it's a really key
piece of your I guess long term planning and structure
(05:37):
to know what is going to happen with your property
once you're no longer around, and there's a variety of
options about what might happen with your property or what
you might want to see heaven with your property. So
it's always good to have a discussion around that too,
to make sure that all the work you're putting into
generate your assets and wealth that is transferred to the
(05:57):
next generation or whoever you want it to be trend
preferred to, you know, in a well structured and I
guess well untentioned.
Speaker 3 (06:06):
Manner, what would be one key message around enduring powers
of attorney that you give to people.
Speaker 2 (06:14):
So it be not necessarily for our older generation. A
lot of people would traditionally think, were you and we
need to keep there when you're getting you know, you know,
a bit longer in the truth, so to speak, so
they definitely are you know, something that is very valuable
for any age group because it's, you know, if you're
going to lose mental capacity, it can happen at any point.
Speaker 1 (06:35):
It's you know, if an accident happens to you on
the farm, if you're a vehicle accident, if you you know,
develop dementia or you know, have some other medical condition
that affects your brain capacity, and that can you know,
those things can happen to people at any age. So
the process is the same regardless of whether you're you know,
(06:57):
a twenty one year old or whether you're a seventy
year old.
Speaker 2 (07:00):
If you don't have powers of attorney in place, your
family can't automatically step in to just make decisions and
manage things for you. It's a process going through the
family court essentially to get permission to be able to
deal with with your air sets and things, which is
you know, costly a time, takes time to do that
(07:23):
and probably adds a bit more stress to what is
probably already a very stressful and emotional.
Speaker 5 (07:28):
Time for people.
Speaker 2 (07:28):
And then you add on or you've got to go
to the family court. That's just you know, upping it
up a notch for people. So powers of attorney it's,
you know, an investment and knowing, you know, giving you
your family makes some certainty about what would happen, especially
if you've got a mess, you know, a decent amount
(07:49):
of capital and air set base. Then you want to
know that you've got the right people making the decisions
around that. If you ever.
Speaker 3 (07:56):
Can't tory the time at Banamin Crookshank the lawyers, where
do people get in touch?
Speaker 2 (08:02):
Sure so they can find us on the internet ctlaw
dot co dot MD, or they can just give us
a call three two nine one eight three.
Speaker 3 (08:14):
Tory Tremaine always got to catch up on the.
Speaker 2 (08:15):
Muster Thanks ending Mus.
Speaker 3 (08:21):
Tory Tremaine of Bannerman, Crookshank Pride, the lawyers based here
in Gore. This is the muster up next for our
way down to the deep south of New Zealand Stuart Island.
We're catching up with Bruce Ford.
This story is the same one, but.
Speaker 2 (00:04):
I got an emptynst Eve inside.
Speaker 3 (00:09):
This is the muster as we can't chat with Tory
Tremaine of Bannaman, Crookshank Pride, the lawyers based in Gore,
and the new officers and a niceome warm at this
time of year. Good afternoon, Tory, by you're going very well. Firstly,
the new office. You must be wrapped with it.
Speaker 2 (00:27):
Yes, no, it's fantastic, a new space to be in.
So it's very bright and malcoming. So it's a nice
place to be each day.
Speaker 3 (00:36):
Now we're talking today about a couple of topics Tory. Firstly,
purchasing property. You're hearing about the art instance, at the
moment people got a bit of extra money from the
Fontira sale or whatever we got in their capital brands,
saying what am I going to do? So perhaps I'm
going to run off block. So if you're going to
go and purchase something, there's always a bit of Edmund
(00:56):
to go with it as such.
Speaker 2 (00:57):
I suppose, yes, that's right, it's I guess the key
takeaway around when you're looking at purchasing property is to
make sure you've got your dubts in a row. Essentially,
and knowing what you're buying and doing your due diligence
and your homework around the property that you're buying, and
you know what the implications are that go with it. Obviously,
(01:19):
the one's finance and most people will know, you know,
talk to your finance, you know, your lender, or figure
out how that's all going to work. But the other
part of it really is, I guess the structuring behind it,
how that fits with your longer term goals you're planning,
and also around I guess council requirements and whether you
(01:42):
know there's some resource consent issues or you know, everything
like that. That sort of feeds into can I use
the property how I want to use it? As everything
lined up as it should be.
Speaker 4 (01:52):
So there are a few boxes to tick when you're
looking at your purchasing a property, especially a rural property,
but for a residential property there's you know, people keen
to invest off some.
Speaker 2 (02:05):
In some other assets. There's similar due diligence that needs
to go on behind the scenes for practicing residential property
as well.
Speaker 3 (02:13):
Does the resource consent side of things catch people out
when they're buying new property.
Speaker 2 (02:19):
It can do.
Speaker 5 (02:21):
I mean these days there's some fairly good resources around
you know, checking in what consents there are, and most
people who are selling their properties will you know, have
some good disclosure.
Speaker 2 (02:31):
Around what existing consents there are. So it's just making
sure that you know, are familiarizing yourself with what they
are and what's necessary and obviously what there is sufficient
to carry on the operation that you want to carry on.
So most people are well across that, but it is
something that can often be I guess put to one
side and everyone thinks, yeah, she'll be right. On the
(02:54):
odd occasion it's not. So that's just something to add
onto your list of things to just make sure you
check in on as part of any property.
Speaker 3 (03:02):
Purchase these days, it comes down to the should be
right mentality as you talked about, then, Torri, you've just
got to put that on one side and do your
due diligence. Do you backed around checks and just make
sure everything aligns. That's what i'd suggest.
Speaker 2 (03:16):
Absolutely, that's one hundred percent correct, because we do find
that it's when you know, people run into issues when
they're signing up to buy properties, it's it's because something
just hasn't quite happened as it should have, and it
can be you know, it's not always the end of
the world, but it is something that can be relatively important,
(03:36):
and it needs to be something that has resolved, you know,
so that you can go on and actually complete your purchase. Usually,
so it's really just about making sure that you've filled
all those things through and down your I guess, proper
homework around what what it all entails. Because yeah, it
used to be that you could sort of get away
(03:57):
with this, you'll be right and you know, it'll filled
itself out, the red tape and things that exist. Now
that there's a lot harder, and yeah, there are things
that are going to catch you out. They can have
some bigger consequences than historically they have had. So we're
just very mindful of you know, a number one takeaway
(04:18):
I guess around that is don't find anything before we've
run it past us, because often we've been there and
seen that and we can pick those things up that ordinarily,
you know, people won't, So that's really important to remember.
Speaker 3 (04:33):
A state planning is something else to consider. Wills and epas. Now,
EPAS doesn't stand around the Environment Protection Agency, although William's
instances not in this one, though it is indeed the
enduring powers of attorney. We've talked about this before, but
you think it's something that you can't talk about enough
just to get the message through regarding what this is about.
Speaker 2 (04:54):
That's right, and look at it sits alongside every bit
of work we do for a client is we've always
got in their mind too, all right, what's their long
term plan? What's their long term structure? Here in nine
times out of ten or nineteen nine percent of the time,
wills and enduring powers of attorney set in alongside that
as well, because you know, if you own property, even
(05:16):
if it's not a significant or none of property, one
day it could be quite significant. So it's one of
those things that wills are relatively cheap and easy to
put in place. There are situations where they can be
a bit more complicated, of course, but for the most
part they are relatively straightforward, and it's a really key
piece of your I guess long term planning and structure
(05:37):
to know what is going to happen with your property
once you're no longer around, and there's a variety of
options about what might happen with your property or what
you might want to see heaven with your property. So
it's always good to have a discussion around that too,
to make sure that all the work you're putting into
generate your assets and wealth that is transferred to the
(05:57):
next generation or whoever you want it to be trend
preferred to, you know, in a well structured and I
guess well untentioned.
Speaker 3 (06:06):
Manner, what would be one key message around enduring powers
of attorney that you give to people.
Speaker 2 (06:14):
So it be not necessarily for our older generation. A
lot of people would traditionally think, were you and we
need to keep there when you're getting you know, you know,
a bit longer in the truth, so to speak, so
they definitely are you know, something that is very valuable
for any age group because it's, you know, if you're
going to lose mental capacity, it can happen at any point.
Speaker 1 (06:35):
It's you know, if an accident happens to you on
the farm, if you're a vehicle accident, if you you know,
develop dementia or you know, have some other medical condition
that affects your brain capacity, and that can you know,
those things can happen to people at any age. So
the process is the same regardless of whether you're you know,
(06:57):
a twenty one year old or whether you're a seventy
year old.
Speaker 2 (07:00):
If you don't have powers of attorney in place, your
family can't automatically step in to just make decisions and
manage things for you. It's a process going through the
family court essentially to get permission to be able to
deal with with your air sets and things, which is
you know, costly a time, takes time to do that
(07:23):
and probably adds a bit more stress to what is
probably already a very stressful and emotional.
Speaker 5 (07:28):
Time for people.
Speaker 2 (07:28):
And then you add on or you've got to go
to the family court. That's just you know, upping it
up a notch for people. So powers of attorney it's,
you know, an investment and knowing, you know, giving you
your family makes some certainty about what would happen, especially
if you've got a mess, you know, a decent amount
(07:49):
of capital and air set base. Then you want to
know that you've got the right people making the decisions
around that. If you ever.
Speaker 3 (07:56):
Can't tory the time at Banamin Crookshank the lawyers, where
do people get in touch?
Speaker 2 (08:02):
Sure so they can find us on the internet ctlaw
dot co dot MD, or they can just give us
a call three two nine one eight three.
Speaker 3 (08:14):
Tory Tremaine always got to catch up on the.
Speaker 2 (08:15):
Muster Thanks ending Mus.
Speaker 3 (08:21):
Tory Tremaine of Bannerman, Crookshank Pride, the lawyers based here
in Gore. This is the muster up next for our
way down to the deep south of New Zealand Stuart Island.
We're catching up with Bruce Ford.
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