What is a will?
A will is a document that sets out your wishes on what will happen on your death. It can specify how you wish your property to be distributed and / or how you want your dependents such as your spouse and children to be cared for.
It is important that you have a will as it can save your loved ones a lot of time, stress and money and can minimise the risk of them being in dispute about how your property is to be distributed.
What happens when you die with a will?
If you die and there is a will, the person appointed to carry out your instructions under the will, known as the executor, needs to apply for probate in the High Court.
Probate is an order that declares the will valid and gives the executor authority to deal with your estate.
It is only when probate is granted, the executor can carry out the instructions under your will.
What happens when you die without a will?
If you die without a will, it is called dying “intestate”. In this case, any beneficiary or close family member can apply to the Court to be appointed the administrator to administer your estate.
The administrator will then distribute your estate according to the surviving relatives as set out in the chart below:
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Family dynamic
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What they can get |
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If you have: - spouse or partner - no parents - no children |
Your spouse/ partner receives the entire estate. |
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If you have - spouse or partner - children |
The spouse/partner receives:
- all your personal chattels
- $155,000 which is currently the set amount under regulation 5 of the Administration (Prescribed Amounts) Regulations 2009 (plus interest until paid);
- 1/3 of any remaining property.
Your children receive:
- 2/3 in equal shares of the remaining property |
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If you have - spouse or partner - one or both parents - no children
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Your spouse/partner receives:
- all your personal chattels - $155,000 - 2/3 of the remaining property
Your parents receive:
- 1/3 in equal shares of the remaining property (unless there is only one parent, who then gets the whole 1/3) |
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If you have: - children - no spouse/partner |
Your children receive equal shares of the entire estate |
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If you have: - one or both parents - no spouse or partner, - no children |
Your parents receive equal shares of the entire estate (or if one parent, they receive the entire estate). |
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If you have: - siblings (full or half blood) - no spouse or partner, - no children, no parents |
Your siblings receive equal shares of the entire estates |
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If you have: - no spouse or partner, - no children - no parents, - grandparents or uncles or aunts (full or half blood) |
Your maternal grandparent/s receives: - half of the entire estate in equal shares between the grandparents (or the whole half estate if only one maternal grandparent)
If no maternal grandparent/s, your maternal aunt and uncle receives:
- half of the entire estate
If no material grandparents, and no maternal aunts and uncles:
- The half share of the estate goes to where the other half of the estate is distributed,
Your paternal grandparent/s receives: - half of the entire estate in equal shares between the grandparents (or the whole half estate if only one maternal grandparent)
If no paternal grandparents, your paternal aunt and uncle receives: - half of the entire estate
If no paternal grandparents, and no paternal aunts and uncles: - The half share of the estate goes to where the other half of the estate is distributed, |
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If you have no surviving family members: |
The estate belongs to the New Zealand government and they may provide for:
- dependents (whether kindred or not) of the intestate; and - other people for whom the intestate might reasonably have expected to make provision. |
If you die without a will, you do not get to choose who to leave your assets to and they can get distributed differently to what you had wanted or intended. We know that it can be difficult for you to consider your own mortality, however, our empathetic lawyers at K3 Legal can help you prepare a will so that your assets are distributed according to your wishes. Please get in touch with us if you need help with your will.
Definitions:
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Personal chattels
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· vehicles · boats, and aircraft and their accessories · garden effects · horses · stable furniture and effects · domestic animals · plate · plated articles · linen · china · glass · books · pictures · prints · furniture · jewellery, · musical and scientific instruments and apparatus · wines, liquors, and consumable store
All of which immediately before his or her death were owned by him or her or in which immediately before his or her death he or she had an interest as debtor, or as purchaser under a hire purchase agreement;
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