Asset Rich, Money Poor: Why an Online Will Matters More Than You Think
Plenty of New Zealanders find themselves in a situation sometimes described as asset rich, money poor. On paper, their wealth looks healthy. They own a home, have KiwiSaver, hold investments or run a small business. Day-to-day cash flow, however, can feel tight.
If this sounds familiar, one important step often gets pushed to the bottom of the list: writing a Will. Setting one up, especially with an online Will in New Zealand, is easier than most people expect and helps protect everything you have spent years building.
Why asset rich Kiwis benefit from having a Will
When most of your wealth sits in property, shares or KiwiSaver, having a clear and legally valid Will is an important step. Without one, your estate is distributed according to New Zealand's intestacy rules under the Administration Act 1969, which follows a fixed statutory formula based on your surviving relatives. Depending on your family situation, this can result in outcomes you would not have chosen.
A Will lets you decide who receives your property and assets, who manages your estate as executor, and how your wealth supports the people you love. For anyone who has spent decades paying off a mortgage or growing a KiwiSaver balance, a Will is the document that keeps those years of effort working for the right people.
A Will reflects what matters most to you
A Will is not only about providing for family. It is a chance to shape how your wealth is remembered. You might choose to support different people in different ways, protect a specific asset, or leave a gift to a cause that matters to you.
You can leave a fixed amount, a percentage of your estate, or specific items like a home or a share of a business. In short, a Will gives you control over your legacy instead of leaving decisions up to default rules.
Your legacy is about more than money
Being asset rich and cash poor usually reflects years of hard work and careful planning. A Will makes sure that effort continues to support the people and causes you care about, and gives your family clarity at a difficult time.
Create your online Will in New Zealand today
If you have assets but no Will, or your Will has not been reviewed in several years, now is a good time to act. You can create your Footprint Will online in as little as 15 minutes and take the first step toward protecting your legacy.
FAQs about online Wills in New Zealand
Is an online Will legally valid in New Zealand? Yes. An online Will is legally valid in New Zealand provided it is signed, dated and witnessed correctly by two independent people who are not beneficiaries, in accordance with the Wills Act 2007.
How much does an online Will cost in NZ? Online Wills are usually more affordable than using a traditional solicitor. Footprint lets you complete yours in about 15 minutes and provides a variety of options for on average $100, including free Will options and discounted Wills through charity and adviser partners.
What happens if I die without a Will in New Zealand? Your estate is distributed according to a fixed statutory formula under the Administration Act 1969, based on your surviving relatives. This may not reflect your wishes and can result in outcomes that you may not have wanted.
When should I update my Will? Review your Will after major life events such as marriage, separation, buying property, having children or receiving an inheritance.
Disclaimer: This article is general information only and does not constitute legal or financial advice. For advice about your personal situation, please speak with a qualified professional.
