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Package includes:

On Demand Module  l  Electronic booklet  l  PowerPoint Presentation

Package Fee (incl GST)

  • $91 - NZLS members and Associate members
  • $121 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

On Demand Module

Presentation time: 60 minutes
1
CPD HR

With the ageing population in New Zealand, Occupation Right Agreements are becoming an option for many. Accordingly, legal practitioners need to be able to understand and explain ORAs to their clients, in plain English.

This module will assist with your understanding in relation to Occupation Right Agreements, and to help you explain the details to your elderly client, in a manner and in language appropriate to the age and understanding of your client.

Topics covered will include:

  • A general overview of Occupation Right Agreements
  • How to calculate the Deferred Management Fee and how to explain this to your client
  • Your responsibility as the legal advisor including the importance of explaining in plain English
  • What happens when a family trust is involved
  • What happens when a life interest is involved
  • Options available to Trustees
  • Protecting Trustees.

Please contact us if you use a dial up internet connection.

Learning objectives

After completing this module, you will be better able to understand:

  • Occupation Right Agreements and the implications for you clients.
  • The Deferred Management Fee and explain this to your clients.
  • The role of Trustees.

Booklet 

Author: Katherine Wilmott
Published: 6 December 2018
Pages: 18

Introduction

Many of your elderly clients are looking at alternatives to home ownership and residential care. Occupation Right Agreements have become the new catch phrase with developments popping up all over the country.

When an elderly client couple arrives at your office all excited about the new development, they need your advice. “It is brand new, like living in a fancy hotel” says Mrs Elderly eagerly, “There are lawn bowls, a pool table, and a bar selling craft beer”, exclaims Mr Elderley, “There is no gardening to do, it was becoming far too much at home” continues Mrs Elderly excitedly “All our friends are there, we can go for coffee in the café”, she continues pointing at the glossy brochure. “We have discussed it with the kids” says Mr Elderly, “and they like the idea. Ummmmm, they don’t know about the family trust though.”

The clients are looking at an Occupation Right Agreement (“ORA”).

This paper will help to answer some of those important legal questions away from the glossy brochures, in plain English, so that you can advise your clients, in plain English.

PowerPoint Presentation

These are the slides included in the presentation.

Katherine Wilmott  
Katherine Wilmott
Katherine Wilmott Legal LTD
Rangiora		  

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