Your will is one part of your broader estate planning. It should work alongside other documents and structures to protect you and your family.
Wills and trusts
If you have a family trust, your will only covers assets you own personally. Anything held by the trust passes according to the trust deed, not your will. This is an important distinction.
When making your will, we'll ask about any trusts you are involved with. We need to ensure your will and trust work together, not against each other.
"A common mistake is assuming your will covers everything. If your home is in a trust, your will has no say over it. You need both documents working in harmony."
Enduring Powers of Attorney
Your will only takes effect when you die. But what if you lose capacity while still alive? That's where Enduring Powers of Attorney (EPAs) come in.
EPAs appoint someone to make decisions for you if you can't make them yourself. There are two types:
For financial and property decisions
For health and lifestyle decisions
We strongly recommend creating EPAs at the same time as your will. They're often more urgent, since you are more likely to need them while alive than not.
Nominated assets
Some assets pass outside your will entirely because they have nominated beneficiaries:
- KiwiSaver: Always goes to your estate (NZ doesn't allow nominated beneficiaries)
- Life insurance: Paid to the nominated beneficiary
- Superannuation: May have nominated beneficiaries
- Digital Assets: Cryptocurrency and online accounts require specific planning
Check your nominations
When did you last update your KiwiSaver or insurance nominations? Life changes, and your nominations should too.
Jointly owned property
If you own property as "joint tenants" with someone else (commonly your spouse), that property automatically passes to the surviving owner when you die. Your will has no effect on it.
If you own property as "tenants in common," your share does pass through your will. We'll check your property titles and explain how your ownership structure affects your estate plan.
We'll help ensure all your documents work together. Call us on 06 835 7394.
What we do at this stage
At this stage, we ensure your will works with your other planning, including your trust, EPAs, and any relationship property arrangements.