Tuesday April 21, 2015
Many people say “we don’t need a Contracting Out Agreement because we don’t own anything!” Assets like Kiwisaver or life insurance are often overlooked; and many people during the course of their lives receive an inheritance, which is worth protecting.
Under the law, if you receive an inheritance while married or in a de facto relationship, it is your property and you are not legally bound to share it with your spouse or partner. Of course, in many cases, people choose to do so regardless. In other cases, your inheritance can become relationship property without you even realising it.