What happens if I die without a will?

(netlawman05). Submitted on Mon, 23 Apr 2012

Introduction


A will is a legal document that provides you the opportunity to decide about the fate of your assets and property. If you die without a will, then your assets and property will be divided in accordance with rule of intestacy. Anyone above the age of 18 can make a valid will. It must be made when you have a mental capacity. It must be in written form.

How the property will be divided in absence of will?
 Your assets will be divided in accordance with following rules if you have not made any will. Such as:

  • if there are no children, then your spouse will receive everything;
  • if children survive but there is no spouse/partner; the children receive everything ;
  • if spouse is already died and only children survive then children will receive everything;
  • if both spouse and children are living then spouse will get all personal chattels, $155,000 and 1/3 of the remainder and the children will get the remaining 2/3;
  • if your spouse and children are no living but your parents are living; your parents will get everything;
  • if only your parents and partner/spouse are living but no children; your spouse will be entitled to  all personal chattels, $155,000 and 2/3 of the remainder and your parents receive the remaining 1/3 ;
  • if only your brothers and sisters are living but no parents, partner, children are living; they will get everything;
  • if you have no brother and sister living but grandparents are living then  your assets will be divided equally between parental grandparents and maternal grandparents;
  • if there are no living parent, grandparent, brother, sisters, spouse then blood relatives will get everything. If no one is surviving then government will get everything.

What is the importance of will?
Will not only divided the assets in accordance with your wishes but also unite the family. It avoids the legal disputes among the members of the family. Your children, partner or spouse will get their share in accordance with your wishes. First law provides you the opportunity to decide the fate of your assets because you have earned them. Therefore, it is your superior right to decide about the division of the assets by making a will.  Law will apply where there is no will.

Can I amend my will?
Yes, you can amend the your will at any time. It is advisable that you must review your will after three of four years or at any time after the happening of major event.

Who can be a witness?
It must be signed and witnessed. A will must be made in the presence of two witnesses. The beneficiary cannot become a witness. Therefore witness must be independent.

Where to buy wills template?
Net Lawman offers written in plain English different templates of wills. Such as:

  • Will: split between children
  • Will simple, all to one person then charity
  • Will spouse life, then others
  • Will spouse for life then children

Conclusion
Now, you have the best chance to make a will because you have tine and mental capacity. You must make a will to unite your family. If you have died without making a will; then your members of the family will get everything in accordance with law. They will waste not only time but also money to get their shares.

 

About the Author

About Net Lawman
Net Lawman New Zealand is the premier source to buy online legal documents written in plain English. We offer a broad range of legal contracts and legal agreement templates downloadable from our live website. All documents are supported with necessary user guidance notes. Some major categories are: business documents, partnership agreements, power of attorney, and shareholder agreements. We also offer comprehensive free legal information and list of New Zealand Acts of parliament.

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