Talk Money: March 17, 2016

Tony Field (Paul Henry)
Tony Field (Paul Henry)

Around half of New Zealanders do not have a will. But it is important to have one.

Not having a will can cause your loved ones stress and it can be costly too.

Having a will allows you to leave instructions about who you want to give your assets to and how you want to provide for your family members.

 It is even more important if you have children. The will allows you to provide written instructions about how you want your children to be cared for.

Really bad decisions can be made when people are at their most vulnerable after a bereavement. So making sure you have a will helps avoid this and protects your family at a difficult time.

Not having a will can also be costly. If you have more than $15,000 in KiwiSaver it'll cost your family a lot to access the money without a will. They will need to apply to the court for Letters of Administration, which can cost thousands of dollars.

The Law Society website and both have advice on how to go about getting a will.