Inside Family Asset Day: Fast Five with Kate Wiseman
Dispute resolver and AMINZ Vice President Kate Wiseman shares what prompted the inaugural AMINZ Family Asset Day, who the day is designed for, the speakers taking part and the issues they will explore, and what attendees can expect to take away.
This is the first AMINZ Family Asset Day. What was the idea behind this dedicated day?
Disputes over family assets can be some of the most complex and fascinating situations we face as dispute resolvers. Families in Aotearoa New Zealand often hold significant assets together, whether in business, farming, property, and/or overseas.
When things go wrong, not only do they potentially involve financial, legal, business, regulatory, statutory, governance and tax issues, they inevitably involve issues of family dynamics and emotion.
Some of the most difficult cases I’ve been involved in are in this area. I’ve seen immense damage done to family relationships, which often resonates over generations. I wanted to bring together specialists in this area to exchange ideas on how we can do things better for these families. There’s a magic that happens when we get experienced people in a room together – we learn from and with each other. That’s good for everyone, practitioners and clients.
Who is the day designed for, and why is this an important area for those professionals to understand?
This is a specialist learning day for all professionals who work with families negotiating the management, sharing or division of assets such as farms, businesses or property holdings. It’s essential for those professionals to understand all the factors that may influence decisions made by those families.
It takes special people with special skills to handle these disputes. You need both high IQ and high EQ in these situations.
It’s no coincidence that this area is the birthplace of new dispute resolution techniques and methods. Both mediation and collaborative resolution grew out of family property disputes.
What are some of the key issues and topics the programme will explore?
We’ll be looking at how and why these disputes arise; how they can be prevented through good governance and communication; the different characteristics of disputes in this area; and how we can best help families in dispute, no matter where they are on the timeline. Sometimes trouble has been percolating for years.
There’s a variety of different dispute resolution methods and techniques available. The more we know and understand about those, the more we can help families to successfully resolve the issues between them in a lasting way.
Are there any sessions you’re particularly looking forward to, or that you expect will generate strong discussion?
We have wonderful speakers joining us from across the country, all of whom have a wealth of experience in this area: Jeremy Johnson at Bankside Chambers, Tammy McLeod, managing director at Davenports Law and leader of their trust law and wealth protection team, Julie Hercock, chartered accountant, Margaret Casey KC at Mills Lane Chambers, Kate Keddell, mediator, Sally Peart, director and notary public at Marks & Worth, Fred Ward, tax partner at Russell McVeagh, and Ayleath Foote, senior lawyer at Shannon + Foote.
This terrific group of speakers will give a range of perspectives from across dispute resolution, trusts and wealth protection, relationship property, succession, tax, and complex asset structures. No one profession has the complete answer in these cases, which is precisely why bringing these perspectives together is so valuable.
I’m particularly looking forward to the closing panel, where practitioners will reflect on cases they’ve been involved in and, with the benefit of hindsight, consider what actually helped move the dispute towards resolution.
What are some of the key takeaways attendees can expect from the day and be able to apply in their own practice?
Those attending can expect to gain new insights into what they need to think about when helping families in dispute. They’ll learn new techniques to best help them navigate those tricky waters. They’ll hear of interesting cases which illustrate the issues faced in this area.
Most of all, I hope people leave feeling better equipped to recognise what may really be driving a family asset dispute and to intervene in a way that gives the family the best possible chance of resolving it constructively.
I’m looking forward to seeing everyone who attends, either in person or online.
Family Asset Day is taking place on Thursday 24 September, at Tavendale + Partners in Christchurch and online. Register to join us.
