11 Sept 2024
According to a recent survey, about 50 percent of New Zealander's either do not have a will or have not updated theirs in several years,
According to a recent survey, about 50 percent of New Zealanders either do not have a will or have not updated theirs in several years, which can lead to complications and an additional burden on family already coping with the death of a loved one.
September is Wills Month in New Zealand, with Friday, September 13th, designated as International Wills Day. This initiative aims to raise awareness about the importance of having a will and to encourage people to take steps to secure their legacies, and ensure their wishes are carried out.
Local Lawyer and Chair of the Wakatipu Community Foundation, Steven Brent says “Creating a will is an essential part of planning for the future. It ensures that your wishes are honored, helps avoid family disputes, and can significantly reduce the legal and financial burdens on loved ones.”
“Of course, once you have made a will they can easily become outdated as life events change your situation, and so September is a good time to dust off your will and make sure it reflects your current wishes.”
New Zealand currently sits alongside Australia but well behind the UK in terms of the number of wills that have a provision for charity, with about 6% compared to 15% in the UK. Steven also asks “that you to think about leaving a gift in your will to a cause that matters to you, or to the Wakatipu Community Foundation who will invest it to create future income for a cause you care about.”
Tori Keating, owner of xtravel, is one generous local who has chosen to bequeath a portion of her will to create a fund with the Wakatipu Community Foundation. The income generated from the fund will be distributed to Remarkable Theatre and St John Ambulance because of their deep, positive impact on the community. Tori believes that supporting the arts and essential healthcare services ensures future generations will experience both cultural enrichment and life-saving care. She says, "By including these gifts, I hope to empower these organisations to continue making a meaningful difference in the lives of many long into the future."
A free Will Information Pack is available on the Wakatipu Community Foundation website, which steps you through what you need to consider when making a will, and a directory of local law firms who can help you to finalise your will.
"We are excited to be part of this important initiative," said Jennifer Belmont, CEO of the Wakatipu Community Foundation. "Our goal is to empower individuals with the knowledge and resources they need to make informed decisions about their estates. By dedicating September to Wills Month, we hope to encourage more people to take this crucial step.”
Whether you are creating a will for the first time or updating an existing one, this is the perfect opportunity to ensure your affairs are in order.
More information about Wills Month is available on www.wakatipucommunityfoundation.org.nz