Articles tagged with High Court
Government Raises Probate Threshold to $40,000 for Faster Asset Access | 2025 Update
1 day ago | 112 viewsThe Government has agreed to raise the probate threshold from $15,000 to $40,000 to make it easier and cheaper for families to access assets of deceased loved ones, according to Justice Minister Paul Goldsmith. The current threshold set in 2009 no longer reflects the value of estates, especially with KiwiSaver balances, leading to smaller estates being burdened by court costs and legal fees. The increase aims to allow executors to distribute lower-value assets more efficiently, ensuring more of the estate goes to beneficiaries, while still maintaining oversight through the High Court for higher value assets to prevent fraud or non-compliance with the deceased's wishes.
Tags: Government probate threshold assets deceased loved ones Justice Minister Paul Goldsmith KiwiSaver High Court legal fees beneficiariesKiwi Red Tape Woes: Outdated Probate Threshold Causes Delays in Estate Administration
1 month ago | 316 viewsRegulation Minister David Seymour says that red tape is giving Kiwis serious headaches, and the Red Tape Tipline has received over 750 submissions. “A submitter to the Ministry for Regulation’s Red Tape Tipline has complained that the threshold for probate has not kept up with inflation. This means that more Kiwis have to go through the tedious legal process that is probate, while they are mourning,” Mr Seymour says.
Tags: Administration All blacks Cabinet David seymour High court Justice Ministry Ministry for regulation New zealand Paul goldsmith Red tape tipline Regulation Regulations Rugby world cup Seymour