Newsletter

It has been an extraordinary year. The aftermath of the Christchurch earthquake in February has had a devastating effect on the lives of the people of Christchurch and its environs.

On the economic front, while New Zealand has low Government debt (compared to the US and most of the countries in the Eurozone) the private sector debt is uncomfortably high.  The rating agency, Standard & Poors, recognised this by downgrading NZ’s credit rating in November 2010.  Apparently this was due to how they viewed private debt after Government bailouts of the private sector in European countries like Portugal, Ireland and Greece.

As lawyers, we see that banks are taking a much tougher line on debt levels both for private and business people. It is timely to remind ourselves that whatever we borrow has to be paid back, if not by us then by our children.

The abolition of gift duty on 1 October will affect many of you.  For example, you are now free to gift off the full amount owing to you by your family trusts without having to pay gift duty.  However, nothing is as straight forward as it would seem, and there are significant implications for some of you, should you decide to take this action.  Certainly it is clear that not everyone should forgive the debts owing from their trust.  If you want to know more about this, have a look at our article “To Gift or Not to Gift”.

The Rugby World Cup was a welcome distraction from global economic woes and natural disasters.  On a local level, it was a positive experience to see full crowds attend both games in Whangarei giving equal support to the participating “minnow” teams with cheerful banter all around.

Next year will be a milestone for us. After 19 years in the heart of the city, we are planning to move in April to new premises at the old Police Station site on Cameron Street.  While moving will be an upheaval, it is a positive step into our future and the first move for us since the firm was founded in 1993. We are pleased to be able to offer you parking at the front of the new premises when you visit next year.

We, the partners and staff, wish you and your families all the best for the festive season.  May you have a safe and happy holiday.  We look forward to seeing you in 2012.

Lynn Neeley is Retiring

Many of you will know the UMK senior legal secretary Lynn Neeley. She has been with our firm since its beginning, apart from a brief absence when Lynn “retired” in 1997.  In fact, Lynn has worked in successive Whangarei law firms for over fifty years, having followed various law firm mergers and reorganizations!   For the last nine years, Lynn has been the secretary for Barbara Beck and Neil McNab.

It is with undeniably mixed emotions that we receive the news that Lynn will retire at the end of this year.   We are elated for Lynn that she and husband Graham will now be able to embark on their journey around the country in the caravan built by Graham.  They have wonderful adventures planned, and deservedly so.  On the other hand, we will lose a key member of our staff and good friend.   She will be greatly missed professionally and personally.

In addition to her seasoned competence, Lynn brought wisdom, pragmatism and positive energy into our workplace. Above all, Lynn has always been caring and loyal to the firm and its clients.

We know that those of you who have known Lynn over the years and have relied on her to “get things done” will also miss her.

Lynn Neeley is a special person.  We wish her all the best, and safe travels.

Iain Duffy is Retiring

After over 50 years in the trust and estate business, legal executive Iain Duffy is retiring at the end of 2011. With others, Iain helped form the NZ Institute of Legal Executives in 1975. He is a Fellow of the Institute and a former national president.

Iain joined UMK in 2008 after many years with the Public Trust and then with other Whangarei law firms. He has a wealth of experience in the administration of estates and trusts.

Many clients have loyally followed Iain throughout the years. It is fair to say that Iain has treasured his client relationships, and has always been a strong client advocate.

Iain’s clients should know that UMK welcomes and encourages their continued association with the firm. In the first instance, Iain’s clients should continue to contact his personal assistant Sharon Heywood at 470 2578, who will liaise with the UMK partners for the appropriate lawyer to assist.

You may know that Iain has been a keen sportsman. In recent times, his main sporting interest has been golf, in which he was a former provincial champion and representative. We wish Iain well in his retirement.