The short answer:
You probably do have assets, and just don’t realise it. If you die without a Will, you’re leaving a legal mess behind for your family to deal with. It doesn’t take very long to sort out and could save your loved ones added hardship in the event of your death.
The slightly longer answer:
A Will is basically a piece of paper detailing what you want to happen to everything you own in the event of your death.
Many people think they don’t have assets, but your car, your KiwiSaver money, cash savings, and anything else of value, all need to be dealt with.
If you die without a Will, it is called dying ‘intestate’. In this case, the court can freeze all your assets for 6 months or more. This can be a major hassle (and cost) for your family during an already difficult time.
In this scenario, the court decides how your stuff is divided up - using a standard formula. A lot of people are under the impression that if they died today, their family or spouse would be able to sort everything out easily. Unfortunately, that just isn’t the case.
People don’t like to talk about death, and we totally understand. But, getting it sorted now could mean a lot less complication for your loved ones in the future.