How to set up a Will?

[Galaxy01]

Is there a way to set up a simple will without going to a lawyer?

Of course, it must be a legally valid will!

[king1]

I was looking at this as an option
https://www.lawhawk.nz/documents/wills-a...ckage.html

haven't done anything about it though...

[Olive]

I worked in law firms for most of my career, specialising in wills and estates.   I strongly advise against trying to prepare and  execute your will without professional input.   There are very very strict parameters to be observed, both in the wording and in the signing and witnessing of a will,  and if you make any mistakes it will at worst be invalid, or at best cost your heirs significant money to validate and administer

Most solicitors will charge $150 - $450 to prepare a will and get it executed.   If you make your own it is likely to cost your heirs in the thousands in extra legal fees.

The best way to save money in legal fees is to prepare yourself well before you see the solicitor or legal executive.   Plan out exactly what you want to achieve with your will.  You will need to decide on who you want to be your executor/s, any specific items or sums of money you want to leave to particular people, and who you want to inherit the rest of your assets.   It is not necessary (or legally binding) to direct what you want to happen to your remains, but a will can be a handy place to give your survivors an idea of your wishes.   Write it all down to help you present your wishes clearly.

Let me know if you want any further advice.

[Galaxy01]

Thanks, Olive. Very good advice.

Made some online search and came across this: https://nzwillkit.com/product/the-new-ze...ne-person/

What are your views?

[Olive]

Thanks, Olive.  Very good advice. 

Made some online search and came across this:  https://nzwillkit.com/product/the-new-ze...ne-person/

What are your views?

Without seeing the actual advice I can't comment other than to reiterate that the content and the signing and witnessing of a will have very particular requirements and most people don't get it right.   I've seen hundreds of homemade wills and almost all are faulty in some respect.

[Praktica]

Be careful of your choice of solicitor. We used the one who had handled our daughter's house purchase, and as she is one of our executors, we had to have advice from another solicitor, to avoid conflict of interest. It wasn't cheap. Choose a solicitor who hasn't had dealings with any of your executors.

[king1]

I worked in law firms for most of my career, specialising in wills and estates.   I strongly advise against trying to prepare and  execute your will without professional input.   There are very very strict parameters to be observed, both in the wording and in the signing and witnessing of a will,  and if you make any mistakes it will at worst be invalid, or at best cost your heirs significant money to validate and administer

Is that the case even if the will is uncontested by siblings Olive?  

does the will need to be processed by a government department or some such that can lead to it being rejected as invalid?

[Olive]

I worked in law firms for most of my career, specialising in wills and estates.   I strongly advise against trying to prepare and  execute your will without professional input.   There are very very strict parameters to be observed, both in the wording and in the signing and witnessing of a will,  and if you make any mistakes it will at worst be invalid, or at best cost your heirs significant money to validate and administer

Is that the case even if the will is uncontested by siblings Olive?  

does the will need to be processed by a government department or some such that can lead to it being rejected as invalid?

Unless the estate is very small and all real estate is jointly owned the executors need to get a grant of Probate from the High Court.  Probate is required to validate the will so that they can close bank accounts, transfer real estate, withdraw KiwiSaver and claim on life insurance policies.   It is the High Court Probate registry which scrutinises the will and checks that it has been properly signed and witnessed and that there are no marks or blemishes.   For example, if the will has any writing on it apart from the date and the signatures this could mean that the testator meant to alter it.  If the will has a paperclip indentation this could indicate that there was something attached at some point.  It is a very technical area.   For example, it is more common than you think for a perfectly written will to be invalidated because a witness or a testator has scribbled in the margin to "try out the pen".   Witnesses can be called upon to swear an affidavit as to the state of the will when it was signed.   That is an extra expense, especially if the will was executed some time ago and the witnesses are hard to track down and/or cannot remember clearly.

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Whether or not a will is contested has no bearing on the acceptability of the will.  It is possible for an interested party to lodge a caveat in the High Court to prevent Probate being granted, but this is rare.   It is more usual for claims to be made after Probate is granted.

[king1]

Is that the case even if the will is uncontested by siblings Olive?  

does the will need to be processed by a government department or some such that can lead to it being rejected as invalid?

Unless the estate is very small and all real estate is jointly owned the executors need to get a grant of Probate from the High Court.  Probate is required to validate the will so that they can close bank accounts, transfer real estate, withdraw KiwiSaver and claim on life insurance policies.   It is the High Court Probate registry which scrutinises the will and checks that it has been properly signed and witnessed and that there are no marks or blemishes.   For example, if the will has any writing on it apart from the date and the signatures this could mean that the testator meant to alter it.  If the will has a paperclip indentation this could indicate that there was something attached at some point.  It is a very technical area.   For example, it is more common than you think for a perfectly written will to be invalidated because a witness or a testator has scribbled in the margin to "try out the pen".   Witnesses can be called upon to swear an affidavit as to the state of the will when it was signed.   That is an extra expense, especially if the will was executed some time ago and the witnesses are hard to track down and/or cannot remember clearly.

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Whether or not a will is contested has no bearing on the acceptability of the will.  It is possible for an interested party to lodge a caveat in the High Court to prevent Probate being granted, but this is rare.   It is more usual for claims to be made after Probate is granted.

Thanks for the info Olive, much appreciated

[Praktica]

Just to correct what I wrote above - it was setting up our daughter with power of attorney over our estate which required the outside advice.

[allblack]

Thanks, Olive. Very good advice.

Made some online search and came across this: https://nzwillkit.com/product/the-new-ze...ne-person/

What are your views?

I was going to do one of them, but then HAD to get a proper will done as part of a COA, and the difference between the quickie and one done by a lawyer was surreal.

The willkit might be OK if you're leaving $28.60 to your favourite goldfish, but if you have real money and hanger's on then you need to do it all proper-like.