You know that old saying “Where there’s a will, there’s a way”… well, that’s a lot truer than you think.
A Will is most commonly described as a list of instructions you leave behind that lets your family know who gets what when you pass away. Without a Will you’ll be leaving it up to others to decide how your assets get distributed, and by “others” we also mean the big G (Government). New Zealand has specific legislation in place that dictates who in your family gets what, and how much if you pass away without a Will. These laws are there to protect partners, parents, and any children from being cut out of receiving an inheritance - it’s all in the name “the Family Protections Act”. What a lot of people don’t know is that if you pass away without a Will, your stuff doesn’t just go to your partner… We noticed this is often the biggest surprise for most Kiwis, and something we think everyone needs to be aware of – so we recommend you check out our common misconceptions page here.
But a Will is so much more than making sure your stuff goes to the right people. It’s also about making sure any children you have (under 18) have a Guardian named for their care. Or, if you have a charity close to your heart, why not leave a legacy behind by gifting them a few $$$.
In short, a Will helps make sure your intentions are clear, and no one gets left out unintentionally.