Why Talking About Wills Openly Is Important
When was the last time you talked to your kids or loved ones about Wills? If the answer is “never” or “not seriously,” you’re not alone. Estate planning isn’t exactly a hot topic around the dinner table. For many, it’s something for “later in life,” something only parents or grandparents need to think about.
But here’s the thing - more and more young Kiwis have assets worth protecting and they may not even know it. With KiwiSaver balances growing and many entering the workforce earlier, the idea that Wills are just for homeowners and retirees is outdated. If something unexpected happens, their money and possessions don’t automatically go to their loved ones. Without a Will, families can face unnecessary legal stress and delays.
So, let’s talk about it. It’s time to break the taboo and make Wills a normal part of financial preparedness. Here’s a few ways that you can discuss this topic with your loved ones.
1. KiwiSaver is a Personal Asset
Many young professionals have already built-up thousands - if not tens of thousands - in their KiwiSaver accounts. Unlike a bank account, where a family member might be able to access funds after death, depending on how the account has been setup, KiwiSaver comes with strict rules. If the balance is over $15,000 and there’s no Will, an authorised person such as your partner, your children or someone caring for your children, will need to go through the courts to apply for access. This can be time-consuming, costly, and stressful during an already difficult time.
A Will can make the process easier. The Will writer gets to choose who receives their KiwiSaver, making sure it’s handled exactly as they want.
2. Avoiding the ‘Default’ Legal Process
When someone passes away without a Will, the legal process can become complicated. Their assets don’t automatically go to their parents, siblings, or partner - everything follows a legal formula set out by the government. And if there’s no clear next of kin, it could even end up unclaimed with IRD.
For young Kiwis who have partners, close friends, or other loved ones they’d want to support, a Will can make sure their wishes are clear. It’s about having control over their own assets, rather than letting the law decide for them.
3. Looking After What Matters
A Will isn’t just about money. Many young people have digital assets too - think social media accounts, mobile phones, gaming accounts, or even a side hustle. Without a Will, it can be tricky (or impossible) for family members to access these. A Will allows them to decide who looks after these assets and online presence.
And for those with pets? A Will is the best way to make sure their furry (or feathery) companions go to the right home.
Breaking the Stigma Around Wills
There’s a common belief that talking about Wills is ‘tempting fate’ or that it’s too morbid for casual discussion. But in reality, a Will is just another part of being financially prepared, just like budgeting, saving, or getting insurance.
Parents and guardians play a huge role in shifting this mindset. If we talk openly about Wills, just like we do about KiwiSaver, car insurance, or first-home deposits, we can help the next generation see it as a normal, practical step.
Here are a few ways to make the conversation easier:
Lead by example. If you have a Will, mention it! It normalises the process and shows it’s not just for older generations.
Frame it as financial planning. Rather than focusing on ‘what ifs,’ highlight that a Will is about protecting what they’ve worked for.
Keep it casual. It doesn’t have to be a big, formal discussion, just a reminder that it’s an easy step that makes a big difference.
The Next Step: Making Wills Simple
The good news? Creating a Will isn’t complicated or expensive. With Footprint they can get their Will in place in on average 15 minutes. It’s a small amount of effort compared to when there is no Will in place, and allows for their wishes to be clearly stated and protects their loved ones from unnecessary hardship later on.
So, let’s make Wills part of everyday financial conversations. Whether they’re just starting their career, building their KiwiSaver, or getting their first flat, young Kiwis deserve to be in control of their future. And that starts with a simple, yet powerful step… A Will.
