FREQUENTLY ASKED QUESTIONS

If you are over the age of 18 and have more than $15,000.00 worth of assets (for example, Kiwisaver, savings, property, life insurance, shares etc) you should have a Will.

A Will lets you say who gets your assets, after you pass away.

Without a Will, the government decides, and it might not be what you want.

The cost of dying without a Will is far more expensive than putting one in place. The process is also a lot harder on your loved ones.

Standard Individual Will $650

Standard Couple Wills $1,000

Comprehensive Individual Will $1,250

Comprehensive Couple Wills $2,000

It only takes 4 Easy Steps:

1) Complete our online quiz.

2) Receive a customised recommendation and quote.

3) Book your appointment.

4) Meet with your consultant and get your personalised Will immediately after.

1) Complete our online quiz.

2) Receive a customised recommendation and quote.

3) Book your appointment.

4) Meet with your consultant and get your personalised Will immediately after.

While you might think it is obvious who will get what, and that this will happen regardless of whether you have a Will, this is far from the truth.

If you die without a Will, your estate will be distributed according to the law (the Administration Act 1969), not according to your wishes. The rules of the Act vary depending on whether you’re survived by a partner, have children or your parents are still alive.

Without a Will the process will also be more difficult, time consuming and costly.

Examples:

If you are married or in a de facto relationship, do not have any children, and die without a Will, your partner will receive your chattels, the first $155,000 of your estate, but only two-thirds of the remainder of your estate – the remaining third will go to your parents (provided they survive you).

If you are married or in a de facto relationship and have children – your spouse/partner will receive your chattels, the first $155,000 of your estate, and only one-third of the residuary estate… the remaining two-thirds will go to your children.

If you are separated from your spouse (but not yet divorced), and you die without a Will, the Act still applies. This is the case whether you have been separated from your spouse for two months, or for twenty years. This means that your spouse would have an automatic right to a significant portion of your estate, even if you haven’t spoken to them for years. In fact, if there are no children and no surviving parents, your spouse has a right to receive your estate in its entirety.

It is so common to not know where to start, take our quiz and you’ll receive a customised quote.

If you want a quick chat, book a complementary 15-minute call.

Great job on taking the first step. It is common to have questions, which is why we have our complimentary 15-minute call, and we will address any questions you have.

Your Will should cover all significant assets, such as KiwiSaver, property, bank accounts, investments, and personal belongings. You can also specify sentimental items and make arrangements for your digital assets.

An executor is responsible for carrying out the instructions in your Will, handling legal and administrative tasks such as applying for probate, locating all of your assets, ensuring all your debts and expenses are paid and distributing the balance to your specified beneficiaries. It’s crucial to select a trusted and capable individual for this role. This may also take months please ensure you choose someone who can practically carry out the role.

You have the flexibility to choose beneficiaries, such as family members, friends, or charitable organisations. It’s essential to clearly specify who should receive what in your Will.

If you have children who are still young, a Will lets you choose someone you trust to take care of them if you’re not around.

Yes, you can there are a range of options, we can discuss these with you in our meeting.

Yes, a Will addresses the distribution of assets after your death. A Living Will or Advance Directive, on the other hand, outlines your healthcare preferences and decisions regarding medical treatment while you are alive.

Absolutely. You can leave a legacy by specifying charitable organisations or causes you wish to support in your Will.

In New Zealand, there’s no inheritance tax or estate tax, but there may be other taxes, such as capital gains tax, to consider. Consult with a tax professional for personalised advice.

Sometimes when you pass, a Will Trust can be formed. This may be the case where you might pass away and your children are not at an age to receive their inheritance. The trustee’s role is to manage assets left in trust for the specific beneficiaries until they reach the age at which they are entitled to receive the assets. The trustee must follow the terms you outline in your Will to ensure your wishes are carried out.

Yes while your property might be held in Trust, items like your KiwiSaver cannot be owned by a Trust and therefore you will require a Will to deal with your personal assets. We can also include in the Will who should manage the Trust in the event of your passing and include a forgiveness of debt clause to ensure your executor isn’t required to obtain funds from the Trust if there is an outstanding debt from the Trust to you personally.

Yes, you can use your Will to express your preferences for funeral or burial arrangements, making it easier for your loved ones to honor your wishes.

Your Will can address overseas assets, however it is advisable to have a Will in each Country you own assets. Take our quiz to see if Succession is right for you.

You can exclude someone from your Will, but it’s crucial to discuss in detail why it is you are doing this, there are certain duties placed on you under New Zealand law, however a well drafted Will addressing why this person has been excluded has more credibility, if challenged by the person you are excluding.

Unfortunately we cannot prevent people from challenging a Will, however if the drafting is clear and in line with the applicable legislation, the person challenging may be advised not to proceed due to the low level of success and implication of costs being awarded.

The timeframe for settling an estate can vary depending on its complexity. Simple estates may be resolved relatively quickly, while more complex ones may take more time.

You can include instructions in your Will for the care of your pets, such as naming someone to look after them. You can’t however leave any assets directly to a pet.

Yes, it’s advisable to update your Will when significant life events occur, such as marriage, divorce, the birth of children, or changes in your financial situation. You can review and amend your Will as needed to reflect your current wishes and circumstances.

We offer a Will Update service which lets you update your Will within 24 moths for a nominal fee if your circumstances change - book here.

Yes, it can, that is unless your Will specifically states that it is made in contemplation of marriage to that person. Even if your wishes do not change, you must re-do your Will if your existing one does not contain the wording “made in contemplation of marriage”.

Of course, we offer discounted wills for couples. Take our quiz for a recommended service and customised quote.