Perpetual Trust

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Wills and Living Wills

 

Everyone over the age of 18 should have a will. It is an important and legally binding record of your wishes that will directly affect those closest to you. It is the only way you can ensure your assets are distributed as you wish after you have died.

Wills, in New Zealand, can provide for:

  • Distribution of assets to beneficiaries of your choice
  • Appointment of guardians of minor children
  • Funeral instructions
  • Education expenses for children and grandchildren
  • Charitable donations.

Perpetual Trust can prepare your will in plain English ensuring your wishes are clearly understood. If your circumstances should change – for example through marriage, separation, divorce, change of property or change of executor – Perpetual Trust has the expertise to help you update your will. We recommend regular reviews of your will to ensure that it remains current.

For more information, read our Frequently Asked Questions.

Living Wills

Living wills (also known as advance directives) are similar to enduring powers of attorney in some ways, but are not legally binding. They are used to clarify your wishes, for example, whether to prolong life support in case of severe injury or illness. Such matters are outside the scope of an enduring power of attorney.

Leaving a legacy

A legacy (also referred to as a bequest) is a gift left in your will. The gift may take the form of cash or other assets such as property and may be left to a person, organisation or both. Find out more about legacies.

Things you need to know about wills

  • A will is a legal document and should be professionally prepared to ensure certainty of your intentions and to avoid later costs should the will terms need to be clarified by the court.
  • A will must be made freely and without any influence from anyone else.
  • The law recognises the rights of family and sometimes other people close to you who may be entitled to share your wealth after you die. If you do not include them in your will, those people may take action to share in your estate and if their rights are established, your wishes may be varied.
  • If you have entered into a Property Agreement under the Property (Relationships) Act or have agreed to include specific provisions in your will this may need to reflect the provisions of those agreements.
  • If you have a partner and your relationship is short term or a subsequent relationship, then the provisions of the Property (Relationships) Act may need to be considered when deciding your will terms.
  • If you believe any of these situations could apply to you we strongly advise you to seek professional advice from us