The importance of having a will A will is an important document and everyone should have one. It is a legal document that clearly sets out your wishes for the distribution of your assets after death. In New Zealand, if a person dies without a will, they are said to have died intestate. If you die intestate, the Administration Act specifies how your property will be distributed, which results in a prolonged and de-personalised legal process.
By leaving a will, you ensure your estate will be dealt with according to your wishes by executors you have appointed, rather than by an administrator who may not be appropriate for your circumstances. A current will is an important part of responsible financial planning. As well as providing for family, many people take the opportunity to make a gift to another party – such as a favourite charity or respected institution – in their will.
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