A journey of learning

Wills, Enduring Power of Attorney, and Estate administration are all terms we might not encounter often, so when it comes to estate planning, there may be a bit of learning to do to make the most of your Will and legacy.

We sat down with a young mother from Auckland to learn about why she got a Will and how it’s benefited her and her loved ones. 

Emma – Auckland – Age 37

1. Why did you get a will in place?

I created a Will and EPA (Enduring Power of Attorney) off the back of my employer, providing free Group Life, Trauma and Income Protection insurance - as part of their benefits offering.

The Will was prompted by the financial literacy accompanying this, which helped me understand that Group Life Insurance and KiwiSaver was a “sole asset”.

The Will for me meant the life insurance went to the right people and not elsewhere, in accordance with the Administration Act.

Equally important (but not in my vocabulary) was the EPA. Having real life situations explained – where a person did not receive their Trauma payment because they were cognitively unable to sign a form - really drove the message home for me and it was a no brainer to get one.

The EPA has already been used by us. My partner, his mother and I all put one in place at the same time. Subsequently, Mum ended up having a successful kidney transplant, and we were able to remain fully informed by the medical professionals throughout the process and could advocate for her personal care and welfare if she could not.

2. What are you hoping your Will does for you and your family?

For me, the Will is for my peace of mind.

I know it is done and it will speed up the financial support to my whānau. I have a jointly owned personal life policy as well as two employer owned life insurance policies, in place for them.

Losing someone is terribly sad, and by sorting the Will, I see it as removing an extra task my whānau would have to do at a time when they will be mourning.

Keeping the whānau home, being at the same school, workplace, and within the same community is massive for me as it means their support network will be there.

Stability, opportunities and setting them up for a successful and fulfilling life is the best that I can hope for.