It’s time to talk to about your legacy
When is the last time you thought about your legacy? While it’s probably not something that’s front of mind in your day to day life, taking a moment to consider the lasting impression you will leave, and how you want to be remembered by your family, friends and members of your community is an important exercise.
Writing a will, or making sure your document is up to date, is the best way to ensure the legacy you leave is a lasting one. We’re going to run through the dangers of not having a will completed, the benefits of doing so, options for including a donation to your favourite charity, and just how easy it is to get started making your will. Talking about your legacy today is the best way to ensure your family, friends and community are taken care of tomorrow.
Dangers of not having a will
Even if you don’t have a substantial estate, not having a will, or having one that isn’t up to date, can leave your family vulnerable.
When you fail to provide a will, you leave your assets at the mercy of the Administration Act 1969. In this process, an administrator is appointed to distribute your assets to family members. While this process is completed in accordance with a set of regulations, ultimately it may not reflect your wishes.
Dying without a will (intestate) can leave your family members left with thousands of dollars in legal fees, as they seek to make sure your final wishes are fulfilled.
Benefits of completing a will
Completing a will, or making sure your current document is up to date, is the best way to ensure you have control over how your assets are distributed and that your loved ones benefit from your will. Making your final wishes known in your will can save family disputes and conflict.
Consider including a donation or gift to your community
Once you have provided for your family and loved ones, it is simple to include a gift to your charity or community. This can be a percentage of your estate, or a defined amount. Your donation need not be a large one to make a difference to help the environment, youth, health, animals, the arts or your favourite charity. You don’t have to be rich to be generous.
A method of charitable giving that is gaining momentum in New Zealand at the moment is giving through your local Community Foundation. Community foundations provide an opportunity for people to leave a gift to their community (either through donations or through a gift in their will). Their funds are pooled and invested in perpetuity; the interest from the funds are then distributed to local charities every year. Choosing to give through a community foundation means that your gift keeps giving back, every year, forever.
It’s not hard to do
Creating a will is surprisingly easy with the help of legal experts. Enlisting the help of those in the know makes seemingly complicated legal issues simple, so you can then have peace of mind knowing your final wishes will be fulfilled.
A free offer
Wakefields Lawyers are offering the chance for our Wellington Region readers to make or change a will for free when you include a donation to your favourite charities via Nikau Foundation, Wellington's community foundation.
Register between 3-7 July 2017 by emailing adrienne@nikaufoundation.org.nz.
THIS IS SPONSORED CONTENT BROUGHT TO YOU BY NIKAU FOUNDATION.