Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sorting your stuff this Wills Month

Remember how your parents made you tidy your room? They probably told you something about taking responsibility for sorting your things or not leaving a mess for others.

It was good advice. So good, in fact, it can apply to your life more broadly.

September is Public Trust’s Wills Month. It’s a time the company hopes more people will think about the mess they could be leaving for family and friends if they die without a valid, up-to-date will.

With less than half of the New Zealand population currently holding wills, it’s something more people need to think about.

“As we go through life, we acquire assets and develop relationships that come with certain responsibilities. Think of these things as the stuff in the ‘room of your life’ and a will as the way to sort and tidy that room when you die,” says Public Trust General Counsel (Retail), Henry Stokes.

“Dying without a will means no clear instructions for how these things are to be sorted. At best, this will mean some second-guessing and deliberating between those left behind. At worst, it can easily lead to squabbling and conflict between family and friends.

“Either way, it means time and money through the courts to resolve, and people are often shocked by how ‘the room’ gets sorted by the law.

“What they just assumed will happen is very often not the case. This is especially true in the case of blended families. It can leave a bitter taste and a raft of resentment within families.

“Having an up-to-date will means taking responsibility for the people and things in your life. It means leaving well and doing what’s right for those left behind,” says Mr Stokes.

According to Public Trust research, some of the most common reasons people haven’t got a will include:

They don’t believe they have enough assets to justify getting a will.
They don’t believe there is any need to hurry with getting a will.
They simply haven’t got around to getting one or don’t believe they have enough time.
They haven’t got anyone that they to want to leave assets to or haven’t decided who to leave them to.
They believe that getting a will is expensive or complicated.

There’s more to a will than just how you want your house or financial assets to be divided. It’s also where you can:

• Name a guardian for your children
• Outline your funeral wishes
• Name who will receive particular valuable items as special gifts
• Provide special instructions around the distribution of particular assets
• Detail your preferences for the ongoing care of your pets.

Public Trust recommends updating your will every 5 years or whenever there is a notable change in your life circumstances.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>


Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>


Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>


Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>