Estate Planning Checklist (New Zealand)

A thorough New Zealand estate plan requires several key documents. (1) A valid Will — the cornerstone of any estate plan. Your Will must comply with the Wills Act 2007 (signed by you in the presence of two witnesses who both sign in your presence). Your Will should appoint an executor, name your beneficiaries, and deal with the residue of your estate. (2) An Enduring Power of Attorney (EPA) for property — under the Protection of Personal and Property Rights Act 1988, this document authorises a trusted person to manage your financial affairs if you lose mental capacity. (3) An Enduring Power of Attorney for personal care and welfare — this authorises your attorney to make decisions about your living arrangements, healthcare, and personal welfare if you lose capacity. (4) A trust deed if a family trust is part of your plan — under the Trusts Act 2019. (5) A Letter of Wishes — a non-binding document guiding your executor and trustees. (6) KiwiSaver beneficiary nomination — ensuring your KiwiSaver balance goes to the right person. (7) A digital assets inventory — documenting your online accounts, cryptocurrency, and access credentials. These documents should be reviewed whenever your circumstances change (marriage, separation, birth of children, significant financial changes).

An Enduring Power of Attorney (EPA) in New Zealand is a legal document created under the Protection of Personal and Property Rights Act 1988 (PPPR Act) that authorises a chosen person (the attorney) to make decisions on your behalf if you lose mental capacity. Unlike an ordinary power of attorney (which lapses if you lose capacity), an EPA endures (continues to operate) even after you lose capacity — this is why it is described as 'enduring'. There are two types of EPA in New Zealand: (1) EPA for property — authorises the attorney to manage your financial and property affairs (banking, investments, real estate transactions, paying bills). (2) EPA for personal care and welfare — authorises the attorney to make decisions about your personal wellbeing, including where you live, what medical treatment you receive, and your day-to-day care. Without a valid EPA, if you lose capacity, your family may need to apply to the Family Court for a welfare guardian or property manager under the PPPR Act — an expensive and time-consuming process. EPAs must be signed in the presence of a witness who is a solicitor, registered legal executive, or other authorised person specified in the PPPR Act.

KiwiSaver is New Zealand's voluntary retirement savings scheme. On death, KiwiSaver funds are treated differently from other estate assets. KiwiSaver members can nominate a beneficiary to receive their KiwiSaver balance directly — this is done through the KiwiSaver scheme provider (not through the Will). If a valid beneficiary nomination has been made, the funds pass directly to the nominated beneficiary without forming part of the estate, meaning they are not subject to estate debts or the Will. If no beneficiary is nominated, or if the nominated beneficiary predeceases the member, the KiwiSaver balance forms part of the estate and is distributed under the Will or intestacy rules. KiwiSaver scheme providers have different processes for paying out death benefits — for smaller balances, the scheme provider may pay without a court order; for larger balances, letters of administration or a court order under the Administration Act 1969 may be required. Members should check with their KiwiSaver provider about the beneficiary nomination process and ensure their nomination is current. KiwiSaver balance is subject to income tax on withdrawal (imputed to the deceased's final tax year in some circumstances) — IRD guidance should be sought.

If you die without a valid Will in New Zealand (intestate), your estate is distributed according to the intestacy provisions of the Administration Act 1969, not according to your wishes. The intestacy rules distribute the estate in a fixed order: (1) If survived by a spouse/civil union/de facto partner and no children, the entire estate goes to the partner. (2) If survived by a spouse/civil union/de facto partner and children, the estate is shared — the partner receives the household chattels, the first NZD $155,000 of the estate (as of the current regulated amount), plus one-third of the balance; the children receive two-thirds of the balance equally. Children's shares are held on trust until age 20. (3) If there is no surviving partner, the estate goes equally to children. If no children, to parents, then siblings, and so on in the order prescribed by the Act. The intestacy rules may not reflect your actual wishes — for example, unmarried partners and stepchildren may receive less than you would have intended. A de facto partner may have intestacy rights only if the relationship meets the definition in the Administration Act 1969 and Property (Relationships) Act 1976. Making a valid Will ensures your assets go where you intend.

A Estate Planning Checklist (New Zealand) does not legally require a lawyer in New Zealand, and individuals and businesses may draft and execute the document independently. The Wills Act 2007 does not mandate legal representation for the creation or signing of this type of document. However, seeking independent legal advice from a qualified New Zealand lawyer is recommended for transactions involving substantial financial value, complex regulatory requirements, or cross-border elements where multiple legal jurisdictions may apply. A lawyer can verify that the document complies with all applicable statutory requirements, identify potential risks specific to the transaction, and confirm that the terms adequately protect the interests of all parties involved. The High Court of New Zealand has jurisdiction over disputes arising from this type of document, and Companies Office may impose additional compliance obligations depending on the nature of the underlying transaction. Professional legal review is particularly advisable where the document will be submitted to government agencies or used as evidence in legal proceedings.