Wills, made simple

Avoid the High Court hassle

If you hold over $40k in assets (including shares) in one institution (like Sharesies) and don’t have a will, your family will need to go through a complex High Court process to access the funds, which can take months. A will can help your family avoid these delays and extra legal costs.

Make sure your wishes are followed

If you die without a valid will, your estate is generally distributed according to the Administration Act 1969. The law sets out a statutory order of who can inherit — and it may not reflect the people you would choose to provide for, such as stepchildren or close friends.

Protect your children

A will is the most common way to legally appoint a guardian for your children. It helps ensure you’re the one deciding who will care for them, rather than leaving that decision uncertain or open to court involvement.

A will is still important even if you’re married. The biggest reason? Saving your whānau a massive headache.

If you have over $15k in shares or more than $40k in total assets, your family usually has to apply to the High Court to access it. Without a will, this process is expensive, stressful, and can last months.

If you own property jointly (like a family home), it usually passes automatically to the surviving owner. But for everything else, the law defaults to these rules:

• If you have a partner and kids: Your partner gets personal items, the first $155k, and 1/3 of the rest. Your kids split the remaining 2/3.

• If you have a partner, no kids, and living parents: Your partner gets items, the first $155k, and 2/3 of the rest. Your parents get 1/3.

A will lets you decide where your assets go and removes an administrative headache for those left behind.

Who counts as de facto? De facto generally applies after 3 years or if you have children together, but it can be sooner—even if you aren't living together full-time. A de facto partner has rights similar to a spouse.

What does it mean for my assets? A de facto partner could have a legal claim on your assets, even if you leave them out of your Will. If you don't have a Will at all, they may take priority over your parents or siblings.

It’s a good idea to discuss this with your partner, and consider putting the following legal documents in place:

1. A Relationship Property Agreement that separates your assets so the law doesn't automatically split them for you. This is especially relevant if you’re nearing the 3-year mark or making major life decisions together.

2. A will laying out who you want to inherit your specific items and money.