Do you have a Will?
Prince's passing provides a timely reminder
Last week a United States judge made it official, despite Prince's estate being worth approximately $250 million, the singer did not have a will in place to declare the distribution of his assets.
Prince is not alone. Many Kiwis are in the same boat - that is a boat with no will.
Sure, most of us have nowhere near the wealth of Prince, but no matter whether we have just a few dollars, or $250 million to our name, we should all have a will.
An up-to-date will is critical when it comes to securing life insurance and safeguarding the interests of your family and dependents. With an up-to-date will you can be confident that, when you die, whatever assets you have will be distributed the way you wish. Wills are particularly important if you're a parent of young children, as it provides an opportunity for you choose their guardian. Without a will the appointment of guardians will sit with the court.
Writing a will can be as simple as recording your wishing on a piece of paper or standard form, however if it's not prepared properly and there's a dispute things can get messy. This is why it's preferable to have a will professionally drawn up - and be sure that it's updated regularly.