Curta and welcome to this episode of Shared Lunch, where we look at the importance of having a will, but also how you might leave a little something to your favorite charity. It's Will's Week and alterra, so a good time for investors to be reminded of this Called brook Ahoe. I'm Brook Roberts, one of the co founders in Coco's of Chase's, and I'm joined by Katherine Simpson, who is a will's expert from public trust.

Curta and welcome to this episode of Shared Lunch, where we look at the importance of having a will, but also how you might leave a little something to your favorite charity. It's Will's Week and alterra, so a good time for investors to be reminded of this Called brook Ahoe. I'm Brook Roberts, one of the co founders in Coco's of Chase's, and I'm joined by Katherine Simpson, who is a will's expert from public trust.

Investing involves risk you might lose the money you start with. We recommend talking to a licensed financial advisor. We also recommend reading product disclosure documents before deciding to invest. Everything you're about to see and hear is current at the time of recording.

Investing involves risk you might lose the money you start with. We recommend talking to a licensed financial advisor. We also recommend reading product disclosure documents before deciding to invest. Everything you're about to see and hear is current at the time of recording.

Welcome Katherine, Kyona, Thanks for having.

Welcome Katherine, Kyona, Thanks for having.

Me so, Katherine. The theme of Will's Week twenty twenty four is charitable giving. But before we dove into what that entails, let's put into context why having a will is so important.

Me so, Katherine. The theme of Will's Week twenty twenty four is charitable giving. But before we dove into what that entails, let's put into context why having a will is so important.

Look, I could talk on this topic for hours. For me, the will is the greatest gift that you can leave your family in terms of certainty about what you want to happen once.

Look, I could talk on this topic for hours. For me, the will is the greatest gift that you can leave your family in terms of certainty about what you want to happen once.

You pass away.

You pass away.

So we encourage every New Zealander over the age of eighteen, particularly those who've got more than fifteen thousand dollars in assets, whether that be in your chesy's account and your kiwisaver, whether that be in a car or some pennies that you've got saved up in the bank account, to start thinking about how do you want to leave your legacy or your things to the people or the.

So we encourage every New Zealander over the age of eighteen, particularly those who've got more than fifteen thousand dollars in assets, whether that be in your chesy's account and your kiwisaver, whether that be in a car or some pennies that you've got saved up in the bank account, to start thinking about how do you want to leave your legacy or your things to the people or the.

Organizations you care about.

Organizations you care about.

So wills are a great way to make sure it's all written down, it's super clear. Once you're gone, nobody's squabbling or disagreeing over what they think you might have wanted.

So wills are a great way to make sure it's all written down, it's super clear. Once you're gone, nobody's squabbling or disagreeing over what they think you might have wanted.

And I understand about forty eight percent of us here in Altio I have a will. Is that enough? And how does that compare internationally?

And I understand about forty eight percent of us here in Altio I have a will. Is that enough? And how does that compare internationally?

We would love everybody to have a will, every adult New Zealander to have a will. It's really tricky to compare internationally because.

We would love everybody to have a will, every adult New Zealander to have a will. It's really tricky to compare internationally because.

Of the size of our population.

Of the size of our population.

But what we understand is that it is a conversation that's tricky across the world.

But what we understand is that it is a conversation that's tricky across the world.

Talking about money.

Talking about money.

Death in the future isn't something that people necessarily easily jump into.

Death in the future isn't something that people necessarily easily jump into.

And so I think we've.

And so I think we've.

Got a really great role we can play in leading in the world around our everyone in New Zealand having a will and what a cool thing we could say that we were better than our Aussie counterparts at.

Got a really great role we can play in leading in the world around our everyone in New Zealand having a will and what a cool thing we could say that we were better than our Aussie counterparts at.

And you mentioned, you know, one of the barriers is that kind of taboo feeling when it's you're talking about you know, death or or you know, planning for that. But what are some of the other barriers you think at the reason why people not enough? For people when outsid I have a will.

And you mentioned, you know, one of the barriers is that kind of taboo feeling when it's you're talking about you know, death or or you know, planning for that. But what are some of the other barriers you think at the reason why people not enough? For people when outsid I have a will.

You look, we hear a good few reasons why people say, oh, maybe just not yet.

You look, we hear a good few reasons why people say, oh, maybe just not yet.

One of the things is I'm too young.

One of the things is I'm too young.

People aren't necessarily feeling like they need to plan ahead.

People aren't necessarily feeling like they need to plan ahead.

I know that I certainly have.

I know that I certainly have.

Got a little bit of invincibility streak, and so I think one of the common myths is, you know, I need to be nearing the end of my life or about to retire. But really, if you think about their fifteen thousand dollars three shold, which the reason that threshold is important is that's when you need to get permission from the court to administer that will, so that is basically to follow out the instructions of that will.

Got a little bit of invincibility streak, and so I think one of the common myths is, you know, I need to be nearing the end of my life or about to retire. But really, if you think about their fifteen thousand dollars three shold, which the reason that threshold is important is that's when you need to get permission from the court to administer that will, so that is basically to follow out the instructions of that will.

A lot of young.

A lot of young.

People are over that threshold pretty.

People are over that threshold pretty.

Early on in life.

Early on in life.

One of the other myths is I need to be rich and have a lot of stuff to have a will, and again that's absolutely not true. We hear a lot from people as well that they think, ah, don't worry about it. You know my spouse, parents, siblings, children, they'll and hear it everything next of ken, no worries. But actually, something that a lot of people don't know is that if you die without a will, there's an administration act that sets it out in a formula. And so you might think that actually everything would go to your children equally, but maybe you've also got a spouse or a partner and they may be relatively new in your life and they may also stand to inherit something. So getting a will is kind of a great way to just, you know, cut through black and white what is it that you wanted, and be really clear on that.

One of the other myths is I need to be rich and have a lot of stuff to have a will, and again that's absolutely not true. We hear a lot from people as well that they think, ah, don't worry about it. You know my spouse, parents, siblings, children, they'll and hear it everything next of ken, no worries. But actually, something that a lot of people don't know is that if you die without a will, there's an administration act that sets it out in a formula. And so you might think that actually everything would go to your children equally, but maybe you've also got a spouse or a partner and they may be relatively new in your life and they may also stand to inherit something. So getting a will is kind of a great way to just, you know, cut through black and white what is it that you wanted, and be really clear on that.

So can you just elaborate on that a bit more and talk about if you don't have a will, what happens with your assets.

So can you just elaborate on that a bit more and talk about if you don't have a will, what happens with your assets.

So if you've got over fifteen thousand dollars and you die without a will, it's what they call dying intestate, which essentially means that someone needs to apply to administer your will, and the person who administers your will is basically the person that collects all of those assets, maybe cashes in some things, might sell property on your behalf, and then ultimately distributes it according to that.

So if you've got over fifteen thousand dollars and you die without a will, it's what they call dying intestate, which essentially means that someone needs to apply to administer your will, and the person who administers your will is basically the person that collects all of those assets, maybe cashes in some things, might sell property on your behalf, and then ultimately distributes it according to that.

Formula that I talked about.

Formula that I talked about.

And you have to apply to the family court through what we call a kind of probate application process in order to have the rights to do that. So if you don't have a will, it can cost you a few thousand more dollars in terms that process and navigating those legal fees. It also can be quite stressful because what you think that person might have wanted, what that person actually wanted, and what that formula set out in the Administration Act say should happen could all be.

And you have to apply to the family court through what we call a kind of probate application process in order to have the rights to do that. So if you don't have a will, it can cost you a few thousand more dollars in terms that process and navigating those legal fees. It also can be quite stressful because what you think that person might have wanted, what that person actually wanted, and what that formula set out in the Administration Act say should happen could all be.

Very different things.

Very different things.

And often at public Trust we step in where families might not necessarily agree or there's a little bit of conflict, and we help to work through that and find the best outcome and try and make sure that everybody can grieve and celebrate their loved one as well as work through the administration and the life had been.

And often at public Trust we step in where families might not necessarily agree or there's a little bit of conflict, and we help to work through that and find the best outcome and try and make sure that everybody can grieve and celebrate their loved one as well as work through the administration and the life had been.

That comes with that.

That comes with that.

So the importance of having a will is making sure that you get to leave the legacy you want to leave behind to those that you ultimately want to be able to inherit that, and without that, there's no kind of control over that, and you'll ultimately create potentially more of a hard situation for those left to have to deal with themarole and the courts and all that sort of jazz.

So the importance of having a will is making sure that you get to leave the legacy you want to leave behind to those that you ultimately want to be able to inherit that, and without that, there's no kind of control over that, and you'll ultimately create potentially more of a hard situation for those left to have to deal with themarole and the courts and all that sort of jazz.

Absolutely, it's a really beautiful gift that you can give to people, to be really clear, and I think it's one of the best gifts that you can leave when you're no longer here.

Absolutely, it's a really beautiful gift that you can give to people, to be really clear, and I think it's one of the best gifts that you can leave when you're no longer here.

Yeah. I had a family member head overseas recently, and before they left, they got their will all set up and they were just just in case, but they also just wanted to make sure that there was just something that was giving them peace of mind in terms of how they wanted their assets distributed if something to will's happened, but let's hope it doesn't. So but I also just recently understood too that despite these kind of tougher economic times at the moment that wills are kind of trending up and they're leaving. Legacy can tell us a little bit about that and what you think is behind it.

Yeah. I had a family member head overseas recently, and before they left, they got their will all set up and they were just just in case, but they also just wanted to make sure that there was just something that was giving them peace of mind in terms of how they wanted their assets distributed if something to will's happened, but let's hope it doesn't. So but I also just recently understood too that despite these kind of tougher economic times at the moment that wills are kind of trending up and they're leaving. Legacy can tell us a little bit about that and what you think is behind it.

Yeah, So we have definitely seen a kind of steady increase in people writing wills, which we're ecstatic about.

Yeah, So we have definitely seen a kind of steady increase in people writing wills, which we're ecstatic about.

It's it is steady, though.

It's it is steady, though.

It's probably not the dramatic increase that we'd like to see and closer to that one hundred percent mark of everyone having a will. What I think is driving it though a lot of it has been post COVID, We've definitely noticed that people had different reflections when they were stuck in their bubble thinking about life and plans and what they wanted to do. There's been an increase in people heading overseas as well to travel now that all the borders are open, and people thinking about planning. What we know from the research that we've done is that ninety eight percent of Nezella's want to leave some form of legacy, so we know that it's really important. How they then go about turning that into an action and getting their will written is different for different people.

It's probably not the dramatic increase that we'd like to see and closer to that one hundred percent mark of everyone having a will. What I think is driving it though a lot of it has been post COVID, We've definitely noticed that people had different reflections when they were stuck in their bubble thinking about life and plans and what they wanted to do. There's been an increase in people heading overseas as well to travel now that all the borders are open, and people thinking about planning. What we know from the research that we've done is that ninety eight percent of Nezella's want to leave some form of legacy, so we know that it's really important. How they then go about turning that into an action and getting their will written is different for different people.

And this theme of wild Week twenty twenty four is charitable giving. Can you tell us a bit about how charitable giving fits into a will?

And this theme of wild Week twenty twenty four is charitable giving. Can you tell us a bit about how charitable giving fits into a will?

So a will is a really powerful tool to be able to pass on a legacy not only to your friends and your faro, but actually also to an organization that might have been really meaningful for you. So there's a couple of different ways that you can do that. In a will, you can leave what is called essentially a gift, so that can be property. We've seen people leave houses to particular organization to repurpose for whether that be headquarters or particular community use. We've seen people leave cars to local high schools. We've also seen people leave monetary amounts just to help us every day spending. The other type of a gift is what we call a kind of residual gift. So once everything in the world that is stipulated has been handed out, whether that be property or particular items, then you can leave a percentage of what's left to a charitable organization. And it can be as little as one percent, but it makes quite a big difference to those organizations in terms of that funding that helps them to keep going and running long into the future.

So a will is a really powerful tool to be able to pass on a legacy not only to your friends and your faro, but actually also to an organization that might have been really meaningful for you. So there's a couple of different ways that you can do that. In a will, you can leave what is called essentially a gift, so that can be property. We've seen people leave houses to particular organization to repurpose for whether that be headquarters or particular community use. We've seen people leave cars to local high schools. We've also seen people leave monetary amounts just to help us every day spending. The other type of a gift is what we call a kind of residual gift. So once everything in the world that is stipulated has been handed out, whether that be property or particular items, then you can leave a percentage of what's left to a charitable organization. And it can be as little as one percent, but it makes quite a big difference to those organizations in terms of that funding that helps them to keep going and running long into the future.

Oh. Interesting, and are there any favorite charities that we seem to be donating to here in our TIOA.

Oh. Interesting, and are there any favorite charities that we seem to be donating to here in our TIOA.

Yeah, there are definitely some favorites.

Yeah, there are definitely some favorites.

We would say child cancer, animal welfare definitely show up in humanitarian causes, so we see a lot of people wanting to donate to really well known charities, unique for Redge Cross, the Child Cancer Foundation. And then we also see people really taking an area of passion.

We would say child cancer, animal welfare definitely show up in humanitarian causes, so we see a lot of people wanting to donate to really well known charities, unique for Redge Cross, the Child Cancer Foundation. And then we also see people really taking an area of passion.

For example, we had a gentleman.

For example, we had a gentleman.

Who was super passionate about wildlife, and so what he did was he asked us to look at conservational organizations that were in the local area that looked after like forestry and birds, and so he wanted to be able to contribute to them ongoing and set up funds that were able to then be used for a variety of different projects.

Who was super passionate about wildlife, and so what he did was he asked us to look at conservational organizations that were in the local area that looked after like forestry and birds, and so he wanted to be able to contribute to them ongoing and set up funds that were able to then be used for a variety of different projects.

So there's a whole heap of different ways you can do.

So there's a whole heap of different ways you can do.

It doesn't necessarily have to be one organization depending on what you want to leave, and your.

It doesn't necessarily have to be one organization depending on what you want to leave, and your.

Gift doesn't have to be huge.

Gift doesn't have to be huge.

It can be a few thousand dollars, or it can be a percentage. There's a whole lot of choice, and so we just encourage people to think about what would be meaningful to them, what fits within their kind, the legacy they want to leave, in the kind of the amount of assets they think they might have, and then think about leaving to an organization in that way.

It can be a few thousand dollars, or it can be a percentage. There's a whole lot of choice, and so we just encourage people to think about what would be meaningful to them, what fits within their kind, the legacy they want to leave, in the kind of the amount of assets they think they might have, and then think about leaving to an organization in that way.

And Catherine nine and that you are pretty open about how you have structured your will, and that You've actually got a part of your legacy going to a charity, and that's quite meaningful to you. Do you want to share us a bit you know about that story.

And Catherine nine and that you are pretty open about how you have structured your will, and that You've actually got a part of your legacy going to a charity, and that's quite meaningful to you. Do you want to share us a bit you know about that story.

Yeah, So personally, in my will, I've chosen to leave a gift to a charity that's really close to my heart, which is the Starship Foundation. So what I didn't realize when I was a child and I used their services quite frequently during my teenage years, was that thirty percent of their annual operating funding comes from bequesting, which is basically another word for leaving some type of.

Yeah, So personally, in my will, I've chosen to leave a gift to a charity that's really close to my heart, which is the Starship Foundation. So what I didn't realize when I was a child and I used their services quite frequently during my teenage years, was that thirty percent of their annual operating funding comes from bequesting, which is basically another word for leaving some type of.

Residual gift in your will. And that number really astounded me.

Residual gift in your will. And that number really astounded me.

And so when I thought about the many weeks and days that I'd spent in Starship with the amazing nurses, you know, long after my parents had gone home because they were juggling looking after three kids and one in Starship but two still needed some help, I just think, what an amazing way to not only leave to my two young children, but also to leave to all of the children of New Zealand through Starship. And so I've gone and put a gift into mind because I think by the time I reach hopefully fingers crossed the point of my will becoming a reality, I think financially, I'll be in a pretty different place to where I am at the moment with my young kids and you know, paying for all the wonderful costs that come with having small children and family. So for me, it was starship. But everyone will have their own personal cause, and I think it's just about what is that legacy beyond your family you want to leave.

And so when I thought about the many weeks and days that I'd spent in Starship with the amazing nurses, you know, long after my parents had gone home because they were juggling looking after three kids and one in Starship but two still needed some help, I just think, what an amazing way to not only leave to my two young children, but also to leave to all of the children of New Zealand through Starship. And so I've gone and put a gift into mind because I think by the time I reach hopefully fingers crossed the point of my will becoming a reality, I think financially, I'll be in a pretty different place to where I am at the moment with my young kids and you know, paying for all the wonderful costs that come with having small children and family. So for me, it was starship. But everyone will have their own personal cause, and I think it's just about what is that legacy beyond your family you want to leave.

Yeah, hey, thanks so much for sharing your story there too. Really appreciate that, and that's really interesting for people to see, you know, the power of charitable giving too. Are there any myths around charitable giving that we should bust?

Yeah, hey, thanks so much for sharing your story there too. Really appreciate that, and that's really interesting for people to see, you know, the power of charitable giving too. Are there any myths around charitable giving that we should bust?

Yeah, I think the most common one is I need to have millions to leave. I think people kind of imagine that they need to be ad to be in the game. And actually, when you think about how you might donate when you're living, is not just dissimilar to how you might donate in your will, in the sense of you do not have to set up your own charitable organization with millions of dollars. It can be as small as a thousand or a few thousand dollars as well, And I think equally as well, I don't know that people know how many people are actually donating. So the thing that really surprised me when I joined Public Trust was about eight percent of New Zealanders that have written their will with us in the last three years left a charitable gift. And that was actually lower than I was just personally expecting. That was my own assumption, not based on any real fact at all, and I would really love to see that number rise because even a one percent shift in that number, if we think about the billions that are going to move an intergenerational wealth transfer over the next twenty years, I just think about how much of that could also be put into creating and enduring New Zealand with those charitable organizations still present to help people. So those are definitely a couple that struck me.

Yeah, I think the most common one is I need to have millions to leave. I think people kind of imagine that they need to be ad to be in the game. And actually, when you think about how you might donate when you're living, is not just dissimilar to how you might donate in your will, in the sense of you do not have to set up your own charitable organization with millions of dollars. It can be as small as a thousand or a few thousand dollars as well, And I think equally as well, I don't know that people know how many people are actually donating. So the thing that really surprised me when I joined Public Trust was about eight percent of New Zealanders that have written their will with us in the last three years left a charitable gift. And that was actually lower than I was just personally expecting. That was my own assumption, not based on any real fact at all, and I would really love to see that number rise because even a one percent shift in that number, if we think about the billions that are going to move an intergenerational wealth transfer over the next twenty years, I just think about how much of that could also be put into creating and enduring New Zealand with those charitable organizations still present to help people. So those are definitely a couple that struck me.

You know, zooming out to an investment portfolio. How common is it for people to leave shares or parts of an investment portfolio in their will.

You know, zooming out to an investment portfolio. How common is it for people to leave shares or parts of an investment portfolio in their will.

Yeah, we definitely see people. We tend to have two types of camps. We have the really avid investors who are really specific about exactly what they want to have happened, and they've been investing for years. And so I've got a friend who's definitely in that camp. As I've actively encouraged them to get their will, They've kind of asked lots of questions about, well, how could I leave an enduring growth and also an enduring kind of income from it. And then we've also got people who just wanted it to be wrapped up and included and kind of cashed up at that point.

Yeah, we definitely see people. We tend to have two types of camps. We have the really avid investors who are really specific about exactly what they want to have happened, and they've been investing for years. And so I've got a friend who's definitely in that camp. As I've actively encouraged them to get their will, They've kind of asked lots of questions about, well, how could I leave an enduring growth and also an enduring kind of income from it. And then we've also got people who just wanted it to be wrapped up and included and kind of cashed up at that point.

So there's definitely options for everyone.

So there's definitely options for everyone.

I would say, the more specific and unique the circumstance you've got, it might pay to go and see someone in real life or talk to someone over the phone versus maybe writing or well online. But there's definitely different ways to structure it depending on what you want those shares to do for you and your loved ones in the future.

I would say, the more specific and unique the circumstance you've got, it might pay to go and see someone in real life or talk to someone over the phone versus maybe writing or well online. But there's definitely different ways to structure it depending on what you want those shares to do for you and your loved ones in the future.

Yeah.

Yeah.

I was talking to someone the other day actually, and they're like, I've just realized I need it will because if something happened to me, I don't want people selling my shares, you know, I want them to be able to keep it. And that was quite interesting for them to kind of have that realization to go, you know about that what they wanted with their legacy. What are some of the tax implications or advantages when it comes to you know, leaving some investments.

I was talking to someone the other day actually, and they're like, I've just realized I need it will because if something happened to me, I don't want people selling my shares, you know, I want them to be able to keep it. And that was quite interesting for them to kind of have that realization to go, you know about that what they wanted with their legacy. What are some of the tax implications or advantages when it comes to you know, leaving some investments.

I mean, I definitely would not say that I'm a tax expert, and people should always get their own advice. But ultimately, of course, you can claim back on donations made if you're earning a text income when you give when you're living, and also entities that earn income like a states once people have passed away.

I mean, I definitely would not say that I'm a tax expert, and people should always get their own advice. But ultimately, of course, you can claim back on donations made if you're earning a text income when you give when you're living, and also entities that earn income like a states once people have passed away.

Also there are tax opportunities in that front to claim.

Also there are tax opportunities in that front to claim.

But in a lot of cases, what we see is that people don't necessarily have the funds or feel like they have the funds to give while they're living.

But in a lot of cases, what we see is that people don't necessarily have the funds or feel like they have the funds to give while they're living.

And I definitely would say that I am in that camp. So for me, it.

And I definitely would say that I am in that camp. So for me, it.

Felt more doable to put it into as part of my will and part of my legacy because again fingers crossed at that point in my life, I feel like it will be a different life stage to where I'm at at the moment. But there's definitely pros and cons to both, and it depends on the outcome that you're trying to achieve. So we always recommend to people go and speak to your accountant or when you're writing your will, to one of our professionals about what are the options, and they will give you some advice or direct you to someone to give you some advice.

Felt more doable to put it into as part of my will and part of my legacy because again fingers crossed at that point in my life, I feel like it will be a different life stage to where I'm at at the moment. But there's definitely pros and cons to both, and it depends on the outcome that you're trying to achieve. So we always recommend to people go and speak to your accountant or when you're writing your will, to one of our professionals about what are the options, and they will give you some advice or direct you to someone to give you some advice.

So what is that average amount bequeathed.

So what is that average amount bequeathed.

In the last three years for the wills that we've written at Public Trust is about ten thousand dollars, So there's definitely quite a range that we see, and that doesn't include necessarily people who set up their own charitable organization ongoing. That's individuals gifting an amount to someone. So again it's pretty notable, and it's pretty amazing that even eight percent of New Zealanders who are writing wills with us are willing to leave that to an organization.

In the last three years for the wills that we've written at Public Trust is about ten thousand dollars, So there's definitely quite a range that we see, and that doesn't include necessarily people who set up their own charitable organization ongoing. That's individuals gifting an amount to someone. So again it's pretty notable, and it's pretty amazing that even eight percent of New Zealanders who are writing wills with us are willing to leave that to an organization.

So talked a lot about the importance of a will and how to structure a charitable giving and leaving investments, but ultimately, how do you create a will?

So talked a lot about the importance of a will and how to structure a charitable giving and leaving investments, but ultimately, how do you create a will?

No, there's a few different options.

No, there's a few different options.

You can go and see your local solicitor, you can come to us at Public Trust, you can go and see another trust, your organization. There are a number of online options which are quite cost effective. Surprisingly, so one of the things we hear from people is they think wills are quite expensive, but our will start from eighty five dollars online, which I think is not too bad in today's economic environment. Or you can call a trust your organization and make an appointment to see someone either in a customer center or a branch or over the phone. So a public trust. We've got twenty one locations nationwide, so we're in most places where people might want to come and see us.

You can go and see your local solicitor, you can come to us at Public Trust, you can go and see another trust, your organization. There are a number of online options which are quite cost effective. Surprisingly, so one of the things we hear from people is they think wills are quite expensive, but our will start from eighty five dollars online, which I think is not too bad in today's economic environment. Or you can call a trust your organization and make an appointment to see someone either in a customer center or a branch or over the phone. So a public trust. We've got twenty one locations nationwide, so we're in most places where people might want to come and see us.

But we're also happy to write.

But we're also happy to write.

A will over the phone or happy to help you if you want to still on your couch in your pajamas once you get home from work and write your will there with your loved ones with you.

A will over the phone or happy to help you if you want to still on your couch in your pajamas once you get home from work and write your will there with your loved ones with you.

Say, if there's a free online tool or something. Is there anything to watch out for when you're creating a will.

Say, if there's a free online tool or something. Is there anything to watch out for when you're creating a will.

Yeah, I think for me it's better to go with a reputable source, whether that's a trustee organization or a solicitor that you know. And I think it's also really important to understand that you need to make sure that it's been witnessed correctly, which is part of what makes it legally binding. So there are specific steps to follow in terms of how many people sign and how they sign the documents, and that can be a bit of a downfall. And then of course making sure that you have a copy of that will where people know where it is, because quite often what we hear from people is I went to find it in Dad's top draw and it wasn't there, And now I've got no idea and what do I do? And unfortunately, if you can't locate it, then it's tricky to prove that there was a will in fact or what those wishes were.

Yeah, I think for me it's better to go with a reputable source, whether that's a trustee organization or a solicitor that you know. And I think it's also really important to understand that you need to make sure that it's been witnessed correctly, which is part of what makes it legally binding. So there are specific steps to follow in terms of how many people sign and how they sign the documents, and that can be a bit of a downfall. And then of course making sure that you have a copy of that will where people know where it is, because quite often what we hear from people is I went to find it in Dad's top draw and it wasn't there, And now I've got no idea and what do I do? And unfortunately, if you can't locate it, then it's tricky to prove that there was a will in fact or what those wishes were.

Because I understand here in Altio it has to be a wet signature on your will, and yet it has to be witnessed in person too, right, so no digital wills signature is allowed.

Because I understand here in Altio it has to be a wet signature on your will, and yet it has to be witnessed in person too, right, so no digital wills signature is allowed.

Not at the moment.

Not at the moment.

No.

No.

So for.

So for.

Us, it do have a will, how often should we be looking at it, refreshing it, updating it.

Us, it do have a will, how often should we be looking at it, refreshing it, updating it.

Yet, look, we recommend every three to five years, or when something big in your life happens, whether it's a marriage or a split, or children, or you buy a business, or you're heading overseas obviously all of those big milestones. Think of it a bit like your packing list to do if you're moving house, buying houses, or doing any of those sorts of things. So three to five years is a good mark because it tends to give you enough regularity without costing you too much to do those quick updates.

Yet, look, we recommend every three to five years, or when something big in your life happens, whether it's a marriage or a split, or children, or you buy a business, or you're heading overseas obviously all of those big milestones. Think of it a bit like your packing list to do if you're moving house, buying houses, or doing any of those sorts of things. So three to five years is a good mark because it tends to give you enough regularity without costing you too much to do those quick updates.

Hey, well, thank you so much, Catherine. Is there anything else you want people to know for Will's Week twenty thirty four.

Hey, well, thank you so much, Catherine. Is there anything else you want people to know for Will's Week twenty thirty four.

Really, my part request would be just give a gift, whether it's to a loved one because you write a will, or a gift to an organization so that they can keep helping New Zealanders. I think this Will's Week, really what we want in public trust is for everybody to be having conversations about the future and planning ahead and getting their.

Really, my part request would be just give a gift, whether it's to a loved one because you write a will, or a gift to an organization so that they can keep helping New Zealanders. I think this Will's Week, really what we want in public trust is for everybody to be having conversations about the future and planning ahead and getting their.

Life admin sorted. And we'd love to help it any.

Life admin sorted. And we'd love to help it any.

Way we can, but just tick it off the list and you'll feel a lot better for it.

Way we can, but just tick it off the list and you'll feel a lot better for it.

Nice and leaving their intergenerational wealth and creating your legacy. Hey, thank you so much for your time, Catherine, and really appreciate it.

Nice and leaving their intergenerational wealth and creating your legacy. Hey, thank you so much for your time, Catherine, and really appreciate it.

Thanks for having me.

Thanks for having me.

You can watch Shed Lunch on YouTube or follow the podcast on Apple, Spotify, or wherever you get your podcasts. Leave us a rating and a comment about what you'd like to hear next. Enjoy the rest of your week. Caack it Down on

You can watch Shed Lunch on YouTube or follow the podcast on Apple, Spotify, or wherever you get your podcasts. Leave us a rating and a comment about what you'd like to hear next. Enjoy the rest of your week. Caack it Down on