September is Wills month
September is National Wills Month, a time to update your wishes and prioritise the ways that could make a difference in your own community. Having a current will is important and ensures that your wishes will be followed after you leave this world. It also means less confusion and heartache for your loved ones.
If you don’t have a will, now is the time to write one!
Consumer NZ advises that Wills aren’t just for those who have a lot of assets, saying that every adult should have a will. That's because the law is inflexible about what happens to your possessions if you die without one. Dying without a will is far more expensive than paying a lawyer to have your will sorted. Assets include KiwiSaver, property, cars, businesses, bank accounts.
A will can also help you leave a legacy for your loved ones to remember you by. Professional advisers will listen, help and ensure your intentions are honored.
Talk with your family about your decisions so that everyone is clear about your wishes. A clear understanding of your wishes can be the best protection for the gifts you want to make.
Your Will is an important document, and it should be prepared with thought and care. As well as considering what you want to do with your assets, many Kiwis also decide to do something significant and include charitable legacy in their Will, a gift in your will is a great way to continue to give back to your community. A gift can be a percentage of your estate, a specified amount, or what’s left after all other commitments are taken care of.
There is a common misconception that bequests and gifts to charities and causes are only for the ‘rich and famous’ but in reality, charities receive all sorts of support, both big and small, as gifts in wills, or as donations during your life.
Leaving a gift in your will is a powerful way of loving the place you call home, leaving funds for something you care about. With a gift to a Community Foundation, your donation can be invested and grown into a long-term source of funding for your local community, targeting the causes you choose. It’s a particularly impactful way to leave a legacy for the long term, since Community Foundations are not-for-profit and are focused on strengthening communities, including supporting local charities and causes that are dear to the hearts of local people.
Working alongside generous kiwis to help them create their own meaningful legacy, to the causes they care about, is what Community Foundations do.
As September is Wills Month, this is a good reminder of the importance of having a will and keeping it current. If you are considering leaving a gift in your will, we can help you make yours a lasting legacy for your community. Contact the Eastern Bay Community Foundation or talk to your lawyer about updating your will to include a gift to a charity that is dear to your heart via your local Community Foundation.
Having a will is powerful. That’s the magic of a legacy.
