October 18, 2022
A Relationship With A Happy Ending? Ask Your Relationship Property Lawyer How
New Zealand law is pretty clear-cut about what constitutes a relationship and what will happen if it breaks down. And it is this splitting of property that can cause a considerable amount of distress when a relationship fails.
While the title of this article is probably a bit misleading, as the end of any relationship is most likely to be a sad time, engaging the services of a relationship property lawyer early in the game can certainly ease the burden at the end.
Having all parties on board with the arrangements in the event of a relationship dissolution goes a long way to ensuring a more amicable ending. Parties can walk away with dignity and know that everyone’s best interests have been served.
Read on to find out what you can do to ensure your relationship can have a “happy” ending.
What New Zealand Law Says
Your relationship property lawyer will tell you that the general rule under New Zealand law says that any partnership that has lasted three or more years (be it marriage, civil union or de facto relationship) will be subject to national guidelines. If such a relationship ends, all property will be divided equally between the two parties.
Why Is This A Problem?
On the surface, this may seem like a fair way to share the property of the two parties; however, problems arise when one of the parties enters into the relationship with assets worth much more than the other parties' assets. Or, during the relationship, one of the parties has contributed far more to the growth of assets than the other.
How Can Your Relationship Property Lawyer Help?
By consulting a relationship property lawyer, you can create a relationship property agreement at the beginning of your relationship. This legally binding contract will cover all assets and relationship property the parties enter with and cover assets generated during the relationship.
It is far easier to make these decisions when your relationship is in a happy space, and you are both thinking rationally. In addition, your relationship property lawyer will have years of experience in dealing with such contracts and can offer sage advice on handling issues like working out each person's contribution and the subsequent division of assets in seemingly unequal situations.
Contact Lawhub today to safeguard your sanity, assets and dignity if the time comes when your relationship may end. Our experienced relationship property lawyers will help you create a relationship property agreement that you can both agree on now and prevent future distress.
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