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Most of us recognise the importance of certain life admin tasks: you need a valid passport to travel, house insurance for your mortgage, and a driver’s licence to get behind the wheel. In the same way, having a Will isn’t optional, it’s essential.
Yet many people still put it off, thinking they’re too young, too busy, or that everything will “automatically” go to their loved ones anyway. Unfortunately, that isn’t always how things work.
If you die without a Will, known legally as dying intestate, the law sets out who gets what, and it may be very different from what you would have chosen.
On top of that, someone needs the legal authority to complete the practical admin that must happen before your money, property, and investments can be transferred to the people left behind. Having a Will gives you control over who that person is. This person is called your executor, and you should choose them carefully. Without a Will, the process is longer, more stressful, and more expensive for grieving family members.
It’s easy to push a Will to the bottom of the to‑do list. Talking to a lawyer costs money, and with families and businesses under pressure, it may feel like the wrong time to add another task.
But the reality is that not having a Will, or relying on a DIY or handwritten one, often ends up costing your loved ones more, financially and emotionally, than making a proper Will in the first place.
A properly prepared and executed Will ensures that what you leave behind is distributed the way you want, without unnecessary complications for the people you care about. You might think that they will be able to work it out, but providing clear instructions to your family during a tough time eases their stress and burden.
A little-known fact about Wills is that if you have married since you prepared a Will, your marriage will render that Will void – it is 'revoked' in legal terms. If you are preparing a Will and your marriage is imminent, your lawyer can include a clause that will ensure your Will remains valid after your marriage. If you have married since you last prepared your Will, you will need to prepare a new one or risk dying intestate.
Many people assume that if they’re married with children, everything will automatically pass to their spouse. But if you die intestate, the law splits your estate in a very specific way.
Your spouse receives the first $155,000 of your estate, then only one‑third of the remainder.
Your children receive the other two‑thirds.
If your intention was for your spouse to be financially supported for the rest of their life, this legal default may not achieve that at all.
If you own your home jointly, yes, your spouse becomes the sole owner by law. But this doesn’t happen somewhere in the ether. Your spouse still needs to sign documents and work with a lawyer to formally update the ownership.
And what if:
If you die intestate, your spouse does not automatically receive all of these assets. Your children may receive a share right away, while their surviving parent is still alive. That may not be what you want.
If any of your assets are valued at $40,000 or over ($15,000 or over for shares), your loved ones will either need a grant of Probate from the High Court (if you have a Will) or a grant of Letters of Administration from the High Court (if you die intestate) to be able to access those funds. KiwiSaver schemes can quickly increase to over $40,000, particularly where the contribution is high or their particular KiwiSaver fund has an aggressive investment strategy.
A Will ensures that you get to decide how your assets are distributed, rather than the default situation in the law. It gives clarity, can help avoid unnecessary conflict and, mostly importantly, reduces stress and cost for the people you care about.
If any of this sounds like a situation you’d rather avoid (and most people would), then the solution is simple: Get an up‑to‑date Will prepared by a lawyer. It’s one of the most important gifts you can give your loved ones.
Most of us recognise the importance of certain life admin tasks: you need a valid passport to travel, house insurance for your mortgage, and a driver’s licence to get behind the wheel. In the same way, having a Will isn’t optional, it’s essential.
Yet many people still put it off, thinking they’re too young, too busy, or that everything will “automatically” go to their loved ones anyway. Unfortunately, that isn’t always how things work.
If you die without a Will, known legally as dying intestate, the law sets out who gets what, and it may be very different from what you would have chosen.
On top of that, someone needs the legal authority to complete the practical admin that must happen before your money, property, and investments can be transferred to the people left behind. Having a Will gives you control over who that person is. This person is called your executor, and you should choose them carefully. Without a Will, the process is longer, more stressful, and more expensive for grieving family members.
It’s easy to push a Will to the bottom of the to‑do list. Talking to a lawyer costs money, and with families and businesses under pressure, it may feel like the wrong time to add another task.
But the reality is that not having a Will, or relying on a DIY or handwritten one, often ends up costing your loved ones more, financially and emotionally, than making a proper Will in the first place.
A properly prepared and executed Will ensures that what you leave behind is distributed the way you want, without unnecessary complications for the people you care about. You might think that they will be able to work it out, but providing clear instructions to your family during a tough time eases their stress and burden.
A little-known fact about Wills is that if you have married since you prepared a Will, your marriage will render that Will void – it is 'revoked' in legal terms. If you are preparing a Will and your marriage is imminent, your lawyer can include a clause that will ensure your Will remains valid after your marriage. If you have married since you last prepared your Will, you will need to prepare a new one or risk dying intestate.
Many people assume that if they’re married with children, everything will automatically pass to their spouse. But if you die intestate, the law splits your estate in a very specific way.
Your spouse receives the first $155,000 of your estate, then only one‑third of the remainder.
Your children receive the other two‑thirds.
If your intention was for your spouse to be financially supported for the rest of their life, this legal default may not achieve that at all.
If you own your home jointly, yes, your spouse becomes the sole owner by law. But this doesn’t happen somewhere in the ether. Your spouse still needs to sign documents and work with a lawyer to formally update the ownership.
And what if:
If you die intestate, your spouse does not automatically receive all of these assets. Your children may receive a share right away, while their surviving parent is still alive. That may not be what you want.
If any of your assets are valued at $40,000 or over ($15,000 or over for shares), your loved ones will either need a grant of Probate from the High Court (if you have a Will) or a grant of Letters of Administration from the High Court (if you die intestate) to be able to access those funds. KiwiSaver schemes can quickly increase to over $40,000, particularly where the contribution is high or their particular KiwiSaver fund has an aggressive investment strategy.
A Will ensures that you get to decide how your assets are distributed, rather than the default situation in the law. It gives clarity, can help avoid unnecessary conflict and, mostly importantly, reduces stress and cost for the people you care about.
If any of this sounds like a situation you’d rather avoid (and most people would), then the solution is simple: Get an up‑to‑date Will prepared by a lawyer. It’s one of the most important gifts you can give your loved ones.
