Estate planning in New Zealand: wills, enduring powers of attorney and trusts
Written by Henry Smith · Reviewed by Smiths Insurance & KiwiSaver, licensed Financial Advice Provider (FSP712931) · Updated 2026-10-20 · Reviewed quarterly, when the underlying data is restated.
Estate planning in New Zealand is deciding, in advance and in writing, who manages your affairs if you lose capacity and who receives your property when you die. A standard plan has three parts: a valid will, an enduring power of attorney (EPA) for property and one for personal care, and a check of the assets that do not follow a will. A family trust is an extra step for specific situations. This page is general information, not legal advice.
A will is the document that says who inherits and who is your executor. An EPA lets a person you choose make decisions for you if you cannot, and it ends on your death. Without a will, the Administration Act 1969 fixes who inherits, and your family usually has to apply to the High Court for letters of administration before they can deal with much of what you owned, although some holders release smaller sums without one. The sections below set out what each tool does, what it costs on the published figures we could source, and which of our guides goes into detail. Figures are as at 20 October 2026 unless a date is shown.
A will must be in writing, signed by you (or by someone else at your direction in your presence), and witnessed by at least two people present together when you sign or acknowledge your signature, each of whom then signs in your presence. You must be 18 or over, with narrow exceptions (Wills Act 2007, ss9 to 11). A gift to a witness, or to a witness's spouse or partner, is void unless an exception applies (s13), so use witnesses who are not beneficiaries. Your executor may witness it (s12). A later marriage or civil union revokes a will unless it was made in contemplation of that marriage (s18).
Prices differ by complexity. Public Trust charges $68 for a signing appointment per will. PK Law's published prices, excluding GST, start at $750 for a single person and $1,250 for a couple with a simple estate, rising to $1,500 and $2,750 at the next level of complexity, and from $2,500 for a single person at the third level. Our guides on making a will, online wills and Public Trust wills compare the routes, and QuoteHub's free will page describes a will drafted by NZ lawyers at no extra cost with a policy.
2. Enduring powers of attorney
A property EPA and a personal care EPA are separate documents. The donor must be over 18 and competent, and the signature must be witnessed by a lawyer, an authorised trustee-corporation officer or a qualified legal executive who is independent of the attorney. An attorney must be an individual aged 20 or over, or a trustee corporation, and a personal care EPA allows only one individual (Protection of Personal and Property Rights Act 1988, ss94A, 95 and 98). The EPA ends when you die; an executor takes over from there. If you suspect misuse, the Family Court can review an attorney's decisions, and the Elder Abuse Response Service is on 0800 32 668 65 (Office for Seniors). See power of attorney in NZ and advance care plans for the personal side, including medical wishes.
3. Decide whether you need a trust
A testamentary trust is created by your will and exists only after you die; a family trust is set up during your life. Both are governed by the Trusts Act 2019. A trust can help where there are young children, a vulnerable beneficiary or a blended family. It is also more costly and more complex than a will, trustees have legal duties, and undistributed trust income has been taxed since 1 April 2024 at 33% on the first $10,000 of income in a tax year and 39% above that (Inland Revenue: trustee tax rates). Take legal advice before setting one up. See testamentary trusts and family trusts.
4. Check what a will does not control
Joint property. A joint bank account passes to the other owner and is not part of the estate. Jointly owned land goes to the survivor as joint tenants; a tenant in common's share goes to the estate (Community Law).
Scheme savings. KiwiSaver savings are paid out to the estate's personal representative or, for small sums, under section 65 of the Administration Act, so they are handled with the other estate assets and there is no named death beneficiary (Schedule 1 clause 9 of the 2006 Act). See administering a deceased estate.
Life insurance. Proceeds are estate property only if payable to the estate; who is paid depends on policy ownership and the insurer's terms, so check the owner and any nominated beneficiary on each policy schedule. See who gets your life insurance payout.
Relationship property. A surviving partner can choose between what the will or intestacy gives them and applying for a division of relationship property under the Property (Relationships) Act 1976, within six months of the grant (Property (Relationships) Act, ss61 to 68). See relationship property.
Do you need an estate planning lawyer?
Not always. A single person or couple with a straightforward estate can use a template, an online service or a short lawyer appointment. A lawyer is the safer route where there is a business, a trust, property overseas, a blended family, a family member you want to leave out, or a partner in a shorter relationship. For probate itself, the Ministry of Justice guide covers only straightforward estates and calls letters of administration complex. Published lawyer fees are in probate lawyer fees. Executors are paid for their services only if the will provides for it (Community Law: choosing an executor).
What happens after you die
Probate is a High Court order confirming a will and the executor's authority. Banks and other holders may not allow access without it, though many will release up to $40,000 per institution without a court order. How long a grant takes depends on the source and the court's workload, so treat any timeframe as a range. For the steps, see dying without a will, administering a deceased estate, contesting a will, probate and the when someone dies hub. New Zealand has no inheritance tax; estate duty ended for deaths on or after 17 December 1992 (Estate Duty Abolition Act 1993).
An annual checklist
Re-read your will after any marriage, civil union, separation, birth, death or major asset change. A separation order or dissolution changes how gifts to an ex-partner are treated (Wills Act s19).
Check who is named on bank accounts, property titles and insurance policies.
Confirm your attorneys and executor are still willing and able.
Keep the original will and EPAs somewhere your executor can find them and tell them where.
Write down funeral wishes, but note that your executor has the final say on burial or cremation.
Where insurance fits
Insurance is separate from a will. A payout that goes to the right person quickly depends on who owns the policy and who is nominated, which is why the policy schedule is worth checking at the same time as your will. If you are looking at life cover, Momentum Life's Quick Life (issued by Momentum Life Limited) is guaranteed acceptance cover for ages 18 to 65, with no health questions; in the first two years, pre-existing conditions and suicide are excluded. Momentum Life is rated B (Fair) by A.M. Best, as set out on its financial strength page. A healthy person can often get more cover for less through an adviser. See Quick Life, and the buttons on this page go to Momentum's own online quote. Our life insurance pages cover other cover types.
Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name.
Adviser's view
Most people treat a will as the whole of estate planning, then find it does not control everything: a joint bank account or jointly owned home passes to the survivor, some savings and other assets go to the estate rather than a named person, and a life insurance payout follows the policy's ownership rules. A will and two enduring powers of attorney cover most households; a trust is for specific problems, not a default. For anything contested or unusual, use a lawyer.
Henry Smith, Financial Adviser (FSP1010699). General information, not personalised financial advice.