Making the Choice: how to divide my loved one’s property when they pass?
We know that the death of a loved one is a difficult time for you and your whānau / family. You are faced with tough decisions, such as – what happens to their property?
If your de facto partner or spouse passes away, you have the option under the Property (Relationships) Act 1976 (“PRA”) to choose:
- Option A: to make an application under the PRA for division of relationship property; or
- Option B: to take under their will (or under intestate law if they do not have a will).
If you do not make a choice, or your choice is made outside of the timeframe or in the manner required by the PRA – then you will be treated as having chosen Option B.
So which option is best?
This can be a tricky question and should be assessed on a case-by-case basis. It is important to have your loved one’s details – including information about their assets, will, or other relevant legal documents before making your decision.
Further considerations, such as the interaction between your choice and any Contracting Out Agreement can also add another layer of complexity to matters.
When making your choice, there is very little room to change your mind down the track, so it is important to understand your entitlements before you make your decision.
For assistance in making your choice, understanding your relationship property entitlements, and navigating this difficult time, contact one of the Family Law experts at Harmans Lawyers.
