Wills and Other Services

Why have a Will

A Will is an important part of your planning for the future. A Will can clearly describe your wishes about: 

  • Arrangements for your funeral
  • What you want done with your property and money (your estate), and
  • How your dependants should be cared for.

A Will is your way to ensure that your family are cared for and protected appropriately, and your assets are distributed according to your wishes when you die.

If you do not have a Will when you die it can cause extra stress for your loved ones at a very difficult time and can cause long delays (a year or more) in sorting out your estate. This means your loved ones will not receive any money and assets from your estate when they may most need them. In addition you will not have a say in who will receive your property and money. The courts will appoint an Administrator to administer your estate, and your estate will be divided up according to the Administration Act 1969, in an order of priority depending on what family members exist.

For example: 

  • If you have a spouse or partner (civil union or de facto), and children, your spouse or partner takes all your personal chattels, the first $155,000 of the estate and one-third of the rest. The other two-thirds goes to your children. 
  • If you have no spouse or partner, your children will take everything in equal shares. 
  • If you have no spouse or partner, and no children, your parents will get everything. 
  • If you have no spouse or partner, children or parents, then your brothers and sisters will take everything in equal shares. 
  • If you die without any of the above list of family members surviving, then your property may be left to any blood relatives (such as grandparents, uncles or aunts) or pass to the Crown.

NZDF Experience

Without a Will the payment of the life insurance provided under the NZDF Member Insurance Benefits Programme (MIBP) (and any other insurance payments) will not be able to be paid out immediately. The MIBP insurance provides $300,000 death cover, and therefore all NZDF personnel do have a large estate even though it may not be directly obvious. Also your own personal belongings which may have sentimental value may not be able to be distributed either.

Contact us, head over to Perpetual Guardian directly to get started, or give them a call at 0800 745 000.

This page was last reviewed on 12 April 2019.