Importance of Having a Will
Tue Feb. 19th 2019
Why do you need a Will?
A Will is one of the most important documents you can make during your lifetime. Having a Will ensures that the people and things that matter most to you are taken care of if something happens to you. When you die, it helps ensure that your assets are distributed as you wish. You can also write down your funeral wishes.
A Will sets out your wishes so nothing is left to chance. Importantly, you can also name Guardians to look after your children.
Although you may not feel that you have enough assets to warrant making a Will, you probably have more than you think. Cars, bank accounts, KiwiSaver, death benefit cover from your Employer, even insurance policies taken out by your parents all count as assets. You can pass the value of these on to your loved ones.
After you've provided for your family and friends, you may wish to leave a gift to charity; this is called a Legacy and it's an important source of income for many charities.
Life is a series of journeys and it's important that you update your Will to reflect your current life circumstances. Marriage, buying a house, children, divorce and the death of a family member are all events which should prompt a review of your Will.
What happens if I don't have a Will?
If you die without a Will, your loved ones won't know what your intentions are. In cases of intestacy (when a person dies without leaving a Will), the Court will appoint an Administrator who will distribute your Estate according the Law. This can be a lengthy and difficult process and there is no guarantee your assets will go to those you intended. This is why it's best to express your wishes in a written Will rather than leaving things to chance.
Don't leave it to chance
The sooner you have a Will the sooner you can have peace of mind, knowing your loved ones will be looked after the way you want them to be.
Need our help?
We're here to answer your questions.Get in touch with us today
Michael is an expert in his field and really goes the extra mile to ensure a professional, thorough and enjoyable experience when looking for Insurance cover or trusted Financial advice. Highly recommended.
Michael has a wealth of information to share with regards to financial planning...he has always provided valuable information to both my clients and me without being a pushy sales person!
I am thrilled with the advice and service Michael provided me for financial planning and for personal insurance. Trustworthy and a very nice chap! I highly recommend his services.
Michael has consistently provided excellent service, financial advice, support and follow-up on insurance services for my business. I would highly recommend Michael to anyone needing clear and honest financial advice.
More people are staying invested in KiwiSaver at age 65
More kiwis are choosing to keep their KiwiSaver going when they reach retirement. Read my thoughts on why in this recent Newshub article, along with other industry experts.
Coronoavirus: Should I be changing my Investments?
As the Coronavirus epidemic enters it's eighth week, Investors around the world continue to assess the long-term economic effects of the epidemic, with mixed verdicts.
The Myth of 2020 Vision
Jim Parker, Vice President of Dimensional Fund Advisors, looks at how this years political and economic events could shape the financial markets, however he advises to err on the edge of caution if your usual investment behaviour is determined by what you read in the press.