Estate administration. It’s time for a new chapter...

The process for charging a fee for ‘settling’ a person’s estate has been common practice since the middle ages (that’s right, since the fall of the Western Roman Empire!). Over time two predominate ways for paying for this service have formed; either pay a percentage of the value of your estate, or pay time and costs.

At Footprint we recognise that times have changed. We live in the age of Netflix, Spotify and My Food Bag. So we were determined to bring modern, flexible thinking to a traditionally rigid industry. Hence Footprint Subscription service was born.

An exposé on the true costs

Most people are pretty clear that at some stage in their life they’re going to need to get a Will sorted. However, general understanding about what happens if you die without a Will is at best naive and at worst, scary. Simply put, if you’re over the age of 18 and die without a valid and current Will, brown stuff can really hit the fan for your family, and that’s on top of trying to come to terms with the loss of the amazing and wonderful person that was you. To learn more about what happens without a Will, click here.

In the world of estate planning (let’s just call this EP from now on) you should think of your Will as being the tip of the iceberg when it comes to costs. Underneath there is much more yet to surface. At a minimum you should be mentally prepared for further expenses associated with estate administration and keeping your Will up to date over the years. Depending on your circumstances there can be other charges, such as storage, disbursements, third party costs, trusts, enduring power of attorneys and more.

Usually the biggest cost associated with EP is estate administration.

In 2018 a survey exposed the truth behind New Zealanders understanding and perception of estate administration activities and costs (intro suspenseful music)….

81^%

of people didn't know a Will required estate administration.

74^%

of people were either neutral or unsure about what estate administration actually involved.

73^%

of people thought the cost of estate administration was less than $1,000!

The truth is the average fee to administer an estate in New Zealand currently sits between $10,000 - $12,000 (individual circumstances will vary). But Footprint is here to change all that.

Footprint is completely unique and is presently unmatched by any other business in New Zealand today - we encourage you to do your research and find this out first hand for yourself.

What Footprint’s Subscription includes

Average Value

An exclusive estate administration package

$10,000

An Online Will

$100

Annual online Will updates

$100 every year

Footprint Digital Vault

$35 every year

Total Value

$10,235 +

Footprint Subscription Annual Fee

$99

Learn

To Will, or not to Will?

If you die without a Will, what happens to all your stuff depends on the value of what you’ve left behind. If all your stuff (aka assets) is worth less than $15,000 your closest living relative will be able to...