What happens to your KiwiSaver if you don't have a Will?

Every pay, a little more goes into your KiwiSaver. Over time, it adds up. For many New Zealanders, it is the largest amount of money they have ever had in one place.

So, it is worth asking: if something happened to you tomorrow, do you know where that money would go?

If you do not have a Will, the answer might surprise you.

KiwiSaver is part of your estate

When you pass away, your KiwiSaver balance does not automatically transfer to your partner or your children. Under New Zealand law, it becomes part of your estate, and if you do not have a Will, it is distributed according to a legal formula called the rules of intestacy under the Administration Act 1969.

That formula does not know your wishes. It does not know that you wanted your partner to be taken care of, or that you have a child from a previous relationship, or that there is a family member you would not want to benefit. It just follows the rules.

The result can be delays of months while the courts sort out who gets what. Family stress at an already difficult time. And money going somewhere you never intended.

Half of New Zealand adults don't have a Will

If you are in that group, you are not alone. Most people mean to get around to it. Life is busy, it feels complicated, and it is easy to assume it can wait.

But the reality is that a Will does not have to be complicated or expensive. And having one means the people you care about are protected, not left navigating a legal process while they are grieving.

A few situations where this matters most

• You are in a relationship but not married. Without a Will, your partner may not automatically inherit what you expected them to.
• You have children from a previous relationship. The intestacy rules may not reflect what you would have chosen.
• Your KiwiSaver balance is your biggest financial asset. It deserves the same thought as anything else you own.
• You have recently gone through a big life change: a new baby, a home purchase, a marriage, a separation, or you may have health concerns. Any of these is a reason to revisit your estate plan.

The good news: you can sort this today

You can create an online Will with Footprint, New Zealand's largest online Will provider, at a time that suits you. There is no reason to put it off. The tool is easy to use, and getting it done means you can stop thinking about it and know those you care about most are not going to deal with delays and extra costs.

It is quick, straightforward, built by lawyers and solicitor approved.

Create your Will with Footprint

You have spent years building your KiwiSaver. A Will is how you protect it.

Disclaimer: This is general information only. It does not constitute legal or financial advice. For advice specific to your situation, please speak with a qualified professional.