8 May 2024

What is a will and why should you have one?

9:05 pm on 8 May 2024
funeral, generic, coffin, death

Photo: 123RF

Half of New Zealand adults do not have a will, research shows, and a young mum who is among them says it is likely because we do not talk about death much.

Harriet Were, 33, of Auckland says she never thought about having a will until she became a mother - no-one in her family talked about having a will.

So what exactly is a will all about?

It is more than what happens to you and your belongings when you die, Catherine Simpson a specialist at Public Trust, a Crown entity, says.

"[A will] also includes wishes for things like family jewellery you might want to hand down, it allows you to name a testimantory guardian to be involved in any of the big decisions for any young children you've got, like how they should be educated or where they go to school," Simpson told First Up.

A will also outlined the deceased's wishes for pets.

People had a lot of misconceptions about having a will, Simpson said.

It was not just for people with children. A will could also include charities or organisations people wanted their money to go to.

"It also helps in ending any family tiffs."

Simpson said anyone 18 years or older with assets worth $15,000 or more should have a will.

"Average KiwiSaver is $28,000 which means that most New Zealander are above that threshold, which means if you don't have a will in place then you are subject to the law in what happens to your assets once you are gone."

But Were said she did not know where to start, being unfamiliar with legal processes - and considering the cost involved in employing a lawyer.

But Simpson's advice for anyone wanting to write a will was to just get around to it.

She said any written instructions were "better than nothing".

There were a range of options available for those wanting to write a will, she said.

"The key is to find a source where you know the wording will stack up eventually in the court when somebody goes to fulfill those wishes."

Simpson said it was better to go to an expert.

"It's not just about the time you spend writing the will, but actually the important thing is how easy it is once you're gone for someone to take that and do what you like them to."

For more information about wills check out the Citizens Advice Bureau.

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