1 00:00:02,360 --> 00:00:06,760 Speaker 1: Final day of September, Final day of wills months, which 2 00:00:06,800 --> 00:00:09,280 Speaker 1: is our annual reminder to get our affairs in order, 3 00:00:09,800 --> 00:00:12,720 Speaker 1: was joined in studio by go to Legal Eagle Jane 4 00:00:12,880 --> 00:00:15,640 Speaker 1: our goal read from our goal Welsh Finnegan and a 5 00:00:15,640 --> 00:00:18,920 Speaker 1: good place to start asking what is a will, Jane? 6 00:00:19,120 --> 00:00:23,720 Speaker 2: Will is a document which sets out your testamentary intentions. 7 00:00:23,760 --> 00:00:27,040 Speaker 2: Here we go big words. Not wake up for that, 8 00:00:27,320 --> 00:00:30,080 Speaker 2: I know, but it sets out what you want to 9 00:00:30,080 --> 00:00:34,080 Speaker 2: have happen with your assets. I think the thing for 10 00:00:34,240 --> 00:00:37,640 Speaker 2: me is for us what we see professionally is that 11 00:00:38,080 --> 00:00:41,479 Speaker 2: it's really stressful for people where there isn't one in 12 00:00:41,520 --> 00:00:46,159 Speaker 2: place and somebody passes away suddenly, because it's it's a 13 00:00:46,159 --> 00:00:50,640 Speaker 2: lot of administration for the people left behind and where 14 00:00:50,680 --> 00:00:54,040 Speaker 2: there's no will in place. Unfortunately, it can also mean 15 00:00:54,080 --> 00:00:57,080 Speaker 2: that people who you don't want to be making decisions 16 00:00:57,160 --> 00:01:00,160 Speaker 2: or to benefit from your assets are the one as 17 00:01:00,160 --> 00:01:00,400 Speaker 2: that do. 18 00:01:01,280 --> 00:01:03,760 Speaker 1: Yeah, what's the sort of stuff that will forces us 19 00:01:03,760 --> 00:01:04,320 Speaker 1: to think about? 20 00:01:04,720 --> 00:01:07,080 Speaker 2: It's forces you think to think about who would be 21 00:01:07,120 --> 00:01:11,480 Speaker 2: the best people to make decisions for you about where 22 00:01:11,520 --> 00:01:15,720 Speaker 2: your assets go. So, whether it's investment money, you know 23 00:01:15,920 --> 00:01:19,399 Speaker 2: who you're leaving in charge to, for example, sort out 24 00:01:19,400 --> 00:01:21,240 Speaker 2: your bank accounts, sort out your keyw saver? 25 00:01:21,560 --> 00:01:24,680 Speaker 1: Is it an executor? Executors? Hey, look at me with 26 00:01:24,760 --> 00:01:26,640 Speaker 1: the terms now, So. 27 00:01:26,600 --> 00:01:29,080 Speaker 2: It needs to be somebody that knows, for example, where 28 00:01:29,080 --> 00:01:32,360 Speaker 2: your bank accounts are held and those sort of things. Hey, yep, 29 00:01:32,520 --> 00:01:34,120 Speaker 2: there needs to be somebody that has a bit of 30 00:01:34,200 --> 00:01:39,080 Speaker 2: knowledge about your assets, but also has some good decision 31 00:01:39,120 --> 00:01:43,120 Speaker 2: making in terms of assets and includes things like guardianship, 32 00:01:43,240 --> 00:01:45,920 Speaker 2: so sets out who would look after and make the 33 00:01:45,959 --> 00:01:49,760 Speaker 2: decisions for your children where you're no longer with us. 34 00:01:49,880 --> 00:01:50,640 Speaker 1: That's a big one. 35 00:01:50,720 --> 00:01:53,480 Speaker 2: It is a big one. And that the common misconception 36 00:01:53,600 --> 00:01:56,760 Speaker 2: that people have around guardianship is that you need to 37 00:01:56,760 --> 00:01:58,920 Speaker 2: decide at this point who your kids live with. It's 38 00:01:58,920 --> 00:02:01,960 Speaker 2: not about that at all. It's about who you and 39 00:02:02,280 --> 00:02:04,520 Speaker 2: your wife think would be the best people to make 40 00:02:04,560 --> 00:02:08,560 Speaker 2: decisions for your children. So it's guardianship is things like 41 00:02:08,639 --> 00:02:12,359 Speaker 2: medical care, schooling, those sort of things. So you don't 42 00:02:12,400 --> 00:02:15,079 Speaker 2: have to decide now where the kids go. It's about 43 00:02:15,360 --> 00:02:17,240 Speaker 2: the people that would make the decisions for them. 44 00:02:17,400 --> 00:02:20,800 Speaker 1: Ah, right, where do we keep a will? Who looks 45 00:02:20,880 --> 00:02:21,400 Speaker 1: after that? 46 00:02:21,639 --> 00:02:23,519 Speaker 2: We would generally do that, So that's. 47 00:02:23,400 --> 00:02:26,160 Speaker 1: With your lawyer. Yeah, okay, that's good. I'd trust you 48 00:02:26,200 --> 00:02:28,640 Speaker 1: more with it than myself. I'd put it in the 49 00:02:28,639 --> 00:02:30,360 Speaker 1: corner of the bench, you know, where all the junk 50 00:02:30,440 --> 00:02:33,240 Speaker 1: mail and the voting papers for the local election end up, 51 00:02:33,240 --> 00:02:35,919 Speaker 1: and then you sort of it'll just it'll just gets 52 00:02:35,919 --> 00:02:36,680 Speaker 1: forgotten about. 53 00:02:36,520 --> 00:02:38,800 Speaker 2: That, because the other thing about it is that the 54 00:02:38,840 --> 00:02:42,000 Speaker 2: process when someone does pass away is that the will 55 00:02:42,080 --> 00:02:44,160 Speaker 2: is if there's a well in place, then that there's 56 00:02:44,160 --> 00:02:46,839 Speaker 2: an application for probate which goes through the High Court 57 00:02:46,880 --> 00:02:49,520 Speaker 2: at Wellington. And if there's an anomaly with the will, 58 00:02:49,560 --> 00:02:52,280 Speaker 2: for example, if the staples being removed in the corner, 59 00:02:52,800 --> 00:02:55,720 Speaker 2: or if there's a watermark on the well, then there'll 60 00:02:55,760 --> 00:02:58,560 Speaker 2: need to be an explanation as to why, just to 61 00:02:58,639 --> 00:03:00,840 Speaker 2: prevent their being a suggestion that the well has been. 62 00:03:01,200 --> 00:03:04,920 Speaker 1: Whimpered west Oh, that's sinister, isn't that? It took a 63 00:03:04,960 --> 00:03:06,680 Speaker 1: Sherlock Holmes turn real quick. 64 00:03:07,040 --> 00:03:10,000 Speaker 2: So there's really clear Wells rules in the Wells Act 65 00:03:10,120 --> 00:03:12,840 Speaker 2: about how awell has to be witnessed and dated and 66 00:03:13,400 --> 00:03:13,839 Speaker 2: so forth.