Do I Need A Will?

Research suggests that as many as two out of every five New Zealanders could die without leaving a valid Will in place.

In the absence of a Will, Estate Administration is a far more complicated and costly process and the chance of disagreement and friction between those left behind are heightened.

Even if you have no significant assets (e.g. house or car) having a Will is still important.  Not only does a Will stipulate how property, money or other assets are to be distributed on your death it also can include the following:

• Burial instructions and details of how you would like your funeral to be carried out;
• Guardian arrangements for any child or children; and
• Specific bequests – that is particular items such as family heirlooms (e.g. jewellery, artwork or furniture) that you would like to leave to a particular family member or friend.

Aside from these more material considerations, blended families are now common place and come with their own set of peculiarities and often financial implications.  Relationship Property is another relevant factor on the death of a spouse and a Will can address these issues and provide certainty for both the couple and their families.

We recommend that you review your will periodically and upon life events for example, birth of a child, marriage or separation.  If you already have a will, we encourage you to review this to ensure it reflects your current circumstances.

Our Wills, Trust and Estates Team is here to assist you with your Estate Planning and to ensure you have peace of mind on these matters.

Chris Cooper, Partner

cjc@younghunter.co.nz

Keely Marbeck

kam@younghunter.co.nz

Michael Toomey

mft@younghunter.co.nz

Steph Gifford, Associate

sjg@younghunter.co.nz

Liz Robb, Associate

err@younghunter.co.nz

Adam Curtin, Solicitor

akc@younghunter.co.nz

Photo by Álvaro Serrano on Unsplash