Wills, made simple

Avoid the High Court hassle

If you hold over $40k in assets (including shares) in one institution (like Sharesies) and don’t have a will, your family will need to go through a complex High Court process to access the funds, which can take months. A will can help your family avoid these delays and extra legal costs.

Make sure your wishes are followed

If you die without a valid will, your estate is generally distributed according to the Administration Act 1969. The law sets out a statutory order of who can inherit — and it may not reflect the people you would choose to provide for, such as stepchildren or close friends.

Protect your children

A will is the most common way to legally appoint a guardian for your children. It helps ensure you’re the one deciding who will care for them, rather than leaving that decision uncertain or open to court involvement.

An Executor is the person you choose to carry out the instructions in your will and manage everything after you pass away. In your drafted will you’ll also see them referred to as your Trustee.

Their job is to make sure your wishes are followed and your estate is wrapped up properly. This includes:

• applying for probate so they can legally act on your will

• collecting and securing your assets (bank accounts, property, investments, personal items)

• paying any debts, taxes, or final bills

• closing accounts and handling paperwork

• distributing your estate to the people or charities you’ve named in your will

• managing any trusts created by your will (if applicable).

You don’t need a legal expert to be your executor—just someone who is practical and reliable. Look for someone who is:

• organised: They’ll be handling paperwork and banks.

• trustworthy: They’ll be managing your life's work.

• willing: It’s a big job—make sure they’re up for it!

Most people choose a partner, a close family member, or a trusted friend. If your situation is quite complex, you can appoint a professional (like a lawyer or trustee company) to act as a neutral party.

Tip: It’s a good idea to name a backup executor just in case your first choice is unable or unwilling to take on the job when the time comes. 

Can my executor be paid? 

Most family members or friends act as executors for free, though they can be reimbursed for out-of-pocket expenses (like travel or filing fees). Only professional executors (like lawyers or trust companies) charge a fee for their services, which is typically paid out of your estate.

A will is still important even if you’re married. If you pass away without one, it doesn’t necessarily mean everything is left to your spouse.

If you own property jointly (like a family home), it usually passes automatically to the surviving owner. But for everything else, the law defaults to these rules:

• If you have a partner and kids: Your partner gets personal items, the first $155k, and 1/3 of the rest. Your kids split the remaining 2/3.

• If you have a partner, no kids, and living parents: Your partner gets items, the first $155k, and 2/3 of the rest. Your parents get 1/3.

A will lets you decide where your assets go and removes an administrative headache for those left behind.

Who counts as de facto? De facto generally applies after 3 years or if you have children together, but it can be sooner—even if you aren't living together full-time. A de facto partner has rights similar to a spouse.

What does it mean for my assets? A de facto partner could have a legal claim on your assets, even if you leave them out of your Will. If you don't have a will at all, they may take priority over your parents or siblings.

It’s a good idea to discuss your wishes with your partner, and consider putting the following legal documents in place.

• A Relationship Property Agreement that separates your assets so the law doesn't automatically split them for you. This is especially relevant if you’re nearing the 3-year mark or making major life decisions together.

• A will laying out who you want to inherit your specific items and money.

In New Zealand, joint wills are not a thing—the law only recognises individual wills.

Couples commonly have ‘mirror wills’ or ‘partner wills’ which are wills that are drafted together, with parts of the will mirrored between the two individuals. However, there is nothing stopping either person from changing their will after they’ve made it.

New on Sharesies: Partner Wills 

One of you creates a will and invites your partner; the other accepts and creates their own, whenever suits them. Their will mirrors yours—flipping the details so they name you where you've named them—with the freedom to change anything to make your will your own.

You'll each have your will, and you can keep it up to date as life changes. Once you've made your will, you'll print it, sign it, and have it witnessed to make it legally valid.

Good to know: your two wills aren't linked, so you can each update yours whenever you need to. A change to one won't change the other.

We recommend updating your will whenever you hit a major milestone like marriage, buying a house, or having a child.

Getting married or entering a civil union

In NZ, getting married or entering a civil union automatically cancels your current will. If you don’t make a new one, your estate is shared according to the law rather than your actual wishes–so it’s a good idea to create a new will as soon as you’ve tied the knot. 

Buying a house

A house is usually a person’s biggest asset, so it’s a good idea to update your will to include it. If your will was written before you owned the house, it may not clearly say who gets the property when you pass away, whether it should be sold or kept, or how the mortgage (if any) should be dealt with. If you own property jointly, this usually passes automatically to the surviving owner. 

Moving in with a partner

Moving in together doesn't automatically cancel your will like marriage does, but it can give a partner legal claims to your estate. If you’re in a de facto relationship, it’s a good idea to revisit your will regardless, and consider putting a Relationship Property Agreement in place to ensure your wishes are clear.

Having a child

Becoming a parent is one of the most common reasons people set up a will. When you create your will with Sharesies, children are grouped automatically so that any future additions or unborn children are included without needing updates. Stepchildren aren’t automatically included in a will, so you need to specifically name them if you want to include them.

A Sharesies Will costs $99. Any edits in the first 30 days post-payment are free. For any other changes, it costs $49 each time you re-open and edit your will.

How does this compare to using a lawyer?

Sharesies Wills are a simple online will product that has been co-designed with legal experts to meet New Zealand legal requirements. A will on Sharesies can be all you need if your family and asset situations are simple and your wishes are clear. 

However, Sharesies is not a law firm and does not provide legal advice. This service is a "do-it-yourself" tool for straightforward estates. If your circumstances are more complicated, Sharesies can connect you with our partners at Davenports Law to draft your will. Or you can contact a lawyer of your choice.