Wills

Your will can help your loved ones and charities after you die. Here are ways to ensure your final wishes are carried out.

Except in the simplest cases it is advisable to use a solicitor, trustee or CAB.

If there are problems after your death, this may prevent your wishes being carried out and mean your estate is frozen for some time.

If you do not make a will, you die 'intestate' and your property will be divided between any surviving family according to a standard formula; so it may not go to the people you expected or wanted it to.

You should be aware of any promises you have made to help people through your will, partners with relationships longer than 3 years, or family members you are excluding (all these may have grounds to challenge your will after you die).

Checklist

Things your will should do:

• state that it revokes any other wills.
• name one or more executors (people you choose to administer your estate)
• include all your money, property and possessions, either by naming them or including them in the 'residue' of your estate
• identify the beneficiaries (the people you are leaving things to) with their full names and their relationship to you
• clearly identify any specific things you want to leave to specific people
• say what should happen if your beneficiaries or executors die before you do
• and be able to be found after your death!

Your may say what funeral arrangements you want, but make sure the people who will arrange your funeral are aware that this is what you have done.
You might also like to consider making donations to charities that have helped you, or you feel special affiliation with.

Witnessing the will

Two people over age 18 must see you sign it. The witnesses must also sign the will in your presence, and there should be an ‘attestation clause’ in the will confirming that you have signed the will in their presence. Witnesses can not be your executors or people you intend to leave any of your estate to.

Your executor(s)

You need to choose an executor to carry out the wishes you stated in the will. Executors can be beneficiaries under the will and you can appoint your spouse, civil partner or children. Check with them that they are willing to take on this role.
Consider naming more than one executor in case one dies before you, or so they can share the work and the responsibility. They can claim from your estate for their expenses. If your estate is large or complicated, there may be advantages in appointing a professional executor.

Revising your will

You may find that people you intended to be beneficiaries or act as executors have died before you. If you remarry, get divorced, or enter into a civil union your will will probably need to be re-done.

Codicils (supplements to a will) can be added to an existing will for minor changes but NEVER make alterations on the original document.

Resources

The Public Trust http://www.publictrust.co.nz/personal_services/wills
Age Concern's submission on the Wills Act.