WILLS - Making a Will and Probate Click here Everyone should have one. Make it simple but effective. An intestate person ie a person dies without leaving a will, the property will have to be shared out according to the rules of intestacy. There is an order of priority of who gets what and how much. The process of winding up the estate could take months or at least a few years.
In NZ, an Intestate person
Under $15000 in any one of the category (cash, shares, kiwisaver, bonds or managed funds)
A small estate has no property or assets worth more than $15,000. the next of kin can manage the administration and distribution of the estate themselves.
More than $15000
If the estate has assets worth more than $15,000 in any one category (such as cash, shares, KiwiSaver, bonds or managed funds) or has property, someone needs to apply to the Court to be the administrator of the estate.
If there is a spouse or partner, but no parents or children:The spouse receives the entire estate.
If there is a spouse or partner and children:The spouse receives the personal effects (such as furniture, paintings, homeware), $155,000 (with interest from the date of death) and a third of anything left. Children will receive the remaining two thirds, divided equally between them.
If there are stepchildren or a blended family:Where there are blended families the situation is more complex. Whether stepchildren are entitled to benefit from an estate will depend on a number of factors including the age of the stepchildren, their relationship to the deceased and whether they relied on the deceased financially. To fully understand stepchildren’s entitlements you should make an appointment to see your nearest Public Trust adviser.
If there is a spouse or partner and parents, but no children:The spouse receives the personal effects (such as furniture, paintings, homeware), $155,000 (with interest from the date of death) and two thirds of anything that’s left. The deceased’s parents will receive the remaining third divided equally amongst them.
If there are children but no spouse or partner:The children receive the entire estate; it will be shared equally among them.
If there is no spouse or partner, no children, but there are surviving parents:The entire estate is divided equally between the parent or parents.
If there is no spouse or partner, no children, no surviving parents but surviving siblings:The entire estate is divided equally between the siblings.
​​​​​​​None of the above:A genealogist will be engaged to determine next of kin details. If no next of kin are able to be located then everything will be passed over to the NZ Government.. Anyone who thought they should have benefited from the estate can apply to the New Zealand Treasury to be considered