Everyone over the age of 18 should have a will.  Without a properly drawn and up to date will, your assets could go to the wrong person or to creditors or the IRD.  This is even more important for people with family trusts, companies, businesses or blended families.

A well drawn will will also lessen the risk of claims on your estate and reduce the risk of family disagreements occurring.

It is essential if you have more complex affairs that your will reflects these. For instance, where you have a family trust, your will should forgive any outstanding loans owed by the trust to you on your death.  Depending on your trust, it should also cover who is to replace you as settler of the trust.  It is also possible to have your will leave assets to a family trust rather than to an individual beneficiary to protect the money from creditors or acquisitive partners.

Blended families can also pose real challenges for people. There is no perfect solution.  Blended families are typically dealt with by:

• The surviving partner getting a life interest in the home;

• The family home being left to the surviving spouse and other property to the children;

• A specific sum of money being left to the surviving spouse and the rest of the assets then divided up amongst the family.

There is no such thing as an iron clad will. Parents have an obligation to provide for their children and if they do not do so fairly then the will may be subject to challenge in the courts. This does not mean you have to leave everything equally, the circumstances are relevant.
An experienced will drafter can assist you in making the right decisions and give your will the best chance of standing up in court.

Some of the things which you need to consider when making a will are:

• Who your executor or executors will be.  It is important this person is trustworthy and capable of dealing with your affairs.

• Testamentary guardians.  For those people with young children, testamentary guardian has legal say in the way that the children are raised.  The guardian does not necessarily have custody of the children.

• What specific gifts do you wish to make to people, e.g. jewellery, money, etc.

• How do you want the balance of your estate divided

We are more than happy to talk through with you the various options available to you.