RNZ money correspondent Susan Edmunds answers your questions. Photo: RNZ
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We'd love to hear more of your questions about money and the economy. You can send through written questions, like these ones, but - even better - you can drop us a voice memo to our email questions@rnz.co.nz.
What is the situation with joint property and joint bank accounts, when someone dies without a will?
I have been living with my partner since the late 1980s. Our house, main bank accounts and one car are in both names.
Our latest car - bought last year from joint bank accounts - could only be registered in his name, due to changes in NZTA rules.
I have a separate bank account in my name, which has a small amount of inherited money. He also has a separate bank account with some money from his family and a few shares in his name, which were acquired through his work.
Many years ago, I was told that if either of us died, then any assets in joint names would go to the surviving partner. We have not made wills, have no children, my parents have both died and his father has died, but recently, I saw that if someone has a spouse or partner, and parents, but no children, the spouse received the personal effects, $155,000 and two-thirds of what is left.
The deceased person's parents get the remaining third.
That means, if I die first, all I have goes to him, which is what I want, but if my partner dies before me, does his remaining parent inherit a third of our house (meaning I will need to sell it, as I do not have funds to buy her out in my 60s), plus a third of our two cars, a third of our joint bank account money, and a third of his KiwiSaver, private superannuation, bank accounts, insurance payouts and shares in his name?
His mother is in residential care with dementia and already has enough funds to cover her care for decades. I am worried I may become homeless.
What is the situation with joint property and joint bank accounts, when someone dies?
As a starting point, it might be re-assuring to note that assets that you hold in a joint name would pass to you, so if you own your house jointly, it would be yours, if your partner died.
I went to Public Trust principal trustee Michelle Pope for more detail to answer the rest of your question.
She said, when someone died, their estate would be distributed according to the Administration Act.
"In the writer's case, if they die first without a will, their entire estate would pass to their partner, as they have no children or surviving parents," she said.
"Assets held in joint names, listed by the writer as the house, main bank accounts and a car, will automatically pass to the surviving partner. However, it's important to confirm whether the property is legally owned jointly or in equal/unequal shares.
"If it's jointly owned, it will pass by survivorship. If not, the deceased's share will need to be administered as part of their estate, which can add complexity.
"If the writer's partner dies first without a will and has a surviving parent, Section 77(3) of the Administration Act 1969 applies. In this scenario, the writer would receive all personal chattels (including the car solely owned by the partner), a prescribed amount of $155,000 plus interest and two-thirds of the remaining estate.
"The surviving parent would receive the remaining one-third of the estate. For clarity, the assets owned solely by the partner would appear to be a bank account, some shares, KiwiSaver, private superannuation and insurance.
"Given the house is owned jointly, the writer can expect that the house will pass to them by what's called 'survivorship' in legal language and will not form part of their partner's estate.
"It goes without saying that I'd encourage the writer and their partner to create wills. A will that clearly outlines their wishes can help remove any uncertainty when a person dies and can make the estate administration process a lot easier for loved ones."
Having separated earlier this year, I chose to move out of the family home where my ex still resides.
She is paying the mortgage, refuses to pay the house insurance or rates etc. the roof is leaking and she refuses to agree to making repairs, the ceiling is now ruined and mouldy.
Though she has indicated she wishes to buy me out, she has not shared any form of offer or plan. She now refuses to engage in any form of correspondence at all.
My questions - how do I go about necessary repairs to the house and how do I get her to move out, so that the house can be sold?
Online research seems to point to tenancy/landlord situations which don't apply in this case. Is it actually just time for a lawyer to sort this out?
Yes, I think the best - and really only - way to deal with this is to go to a lawyer as soon as possible.
Can you please answer some questions about the way supermarkets operate. If I deliberately deceive customers, it's called deception.
If I deliberately load, unload prices to make you think you are getting a better deal when you are not, this is manipulation to enhance your profit.
Surely both of the above are profiteering and fraudulent.
Supermarkets - and all retailers - have rules they have to comply with, when it comes to discounting, and it is illegal for businesses to mislead shoppers about prices. You can complain to the Commerce Commission, if you think someone has got it wrong.
There is a lot of focus on supermarket pricing at the moment and Consumer NZ has been vocal about the current regime not being effective enough.
It is calling for tougher penalties and infringement notice powers.
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