Will the government decide who gets your hard-earned assets?

Imagine the state taking control of your house, Kiwisaver funds, insurance policies, and any other assets you’ve accumulated, and then deciding who inherits them.

It’s not a paranoid plot. It’s what happens if you die without a Will.

The law is very clear. If you have over $15,000 worth of assets, dying without a legally verified Will means the government steps in. In technical terms, this is called dying intestate and your estate going into probate. In plain language, it could mean an estranged spouse or distant relatives could end up inheriting a chunk of your assets, regardless of your wishes.

Now let’s look at the positive news.

Every homeowner should have a Will.

$15,000 isn’t a large estate. If you have a mortgage you’re most likely above the threshold. 

However, 50% of New Zealand adults don’t have a Will. 

If you’re in that 50% we encourage you to make one. It doesn’t have to be complicated or cost a lot. Your lawyer can help – or you can ask us to refer you to some great lawyers we work with. There are also websites that help you make a Will online.

It’s important, because passing away without a Will can cause a lot of heartache.

Protect your loved ones from unnecessary stress.

The last thing a bereaved family needs is a messy dispute about who inherits what. Your well-drafted Will is your opportunity to make your wishes clear. 

It will also reduce the legal costs of dealing with your affairs and will clear the way for your heirs to receive their inheritance without delay.

At Sue Tierney Mortgages we’re not lawyers and we have no vested interest. But every day we deal with people who are buying property and taking out insurance. There are large sums at stake so it’s just common sense to make sure there are plans in place for the future.

Got a Will? That’s great! 

If not, get in touch, and we’ll point you towards some people who can help.

Book an appointment now, using the link below.