02/05/2002 "Couples rush to beat new property law"

Couples rush to beat new property law
- By REBECCA WALSH (NZ Herald)

Gay couples in New Zealand are rushing to protect their individual property before a new law comes into force that will generally see property split in half if they separate.

In the past month, family law specialists say, there has been a marked increase in people wanting to contract out of the Property (Relationships) Act, which will replace the Matrimonial Property Act.

One Auckland law firm has dealt with five times as many agreements this month. On average it handles up to four, in January that figure was closer to 20.

The new act, which covers married, de facto husbands and wives and same-sex partnerships of three years or more, will effectively split relationship property down the middle, unless alternative legal
arrangements have been agreed to by both parties.

Couples can put in writing the division of property they want should they split up or one of them die. Each partner must receive independent advice before signing.

Sole barrister and family law specialist David Burns said that in the past two weeks he had received more than the usual number of requests for property agreements.

Often it was partnerships where there was a huge discrepancy in assets. One couple he had seen were arguing over whether they had been in a relationship for three years. Mr Burns said it was possible they would separate, providing the man with protection for his assets unless they could reach agreement.

Family law specialist Simon Jefferson, whose firm Sheiff Angland has handled five times as many property agreements this month, said it was mostly mature people, many in second relationships with accumulated assets who wanted to order things in a way they were comfortable with.

Mr Burns said for most married couples it was "business as usual". The most significant change for them would be a provision which allowed the courts to consider compensation for economic disparity after a couple had separated. People would also be able to contest a partner's will.