Research commissioned by Public Trust this year indicates that 65% of New Zealand parents and guardians with children under five do not have a Will.
An up-to-date Will provides certainty for your family if the unexpected happens.
Those with children, property, or assets with one institution valued over $15,000 (including Kiwisaver) should have an up to date Will, or your assets might not be handled as you intend.
If you don’t have a Will, the intestacy rules will apply, and the default age of inheritance is 18.
It is important for adults, young and old, to address how their affairs will be dealt with after death. Having a properly drafted Will brings practical benefits after your death. However, perhaps more important are the discussions that take place while going through the estate planning process.
- Family goals
- Financial goals
- What if? conversations
- Business succession
- Relationship property considerations
A Will can also outline your wishes for your funeral and burial/cremation. This takes a significant amount of stress off loved ones at an already difficult time and allows them to honour you in the way you wish to be honoured.
Having a Will in place also helps to remove potential conflict if the law is allowed to dictate how your estate is divided. Giving you a peace of mind that your affairs are in order should the unexpected happen.
For more information about estate planning, contact our Wills and Estate team at [email protected] or 03 441 2743.