New Zealand’s Great Wealth Transfer

New Zealand is on the cusp of the largest intergenerational wealth transfer in its history. According to a report from JBWere, over the next 25 years, an estimated $1.1 to $1.6 trillion will pass from older generations to their children and grandchildren — most of it in the form of property. To put that in context, annual inheritances in New Zealand were around $27 billion in 2024 alone.

There has never been a more important time to make sure your affairs are in order. However, only around half of New Zealand adults have a will. If you die without a will, the law decides how your estate is distributed, which may not reflect your wishes or protect the people you care about.

A will is the starting point. But solid estate planning goes further. Depending on your circumstances, you may also want to consider:

• Enduring Powers of Attorney (EPAs) — appointing someone you trust to make decisions on your behalf if you lose mental capacity. Without these, your family may need to apply to the court which can be costly and time-consuming.
• A family trust — which can protect assets, manage how wealth is passed on, and in some cases provide tax and relationship property advantages.
• Reviewing your existing arrangements — wills, trusts, and EPAs can become outdated. If you’ve married since your will was executed, it’s likely now invalid. Marriage, separation, the birth of children or grandchildren, and significant changes in assets are all reasons to review your arrangements.

If you have not reviewed your estate planning recently or have never got around to putting a will in place, now is a great time to act.

We can help. Muir + Partners advises on wills, trusts, and enduring powers of attorney. Get in touch with our team to discuss your situation.

Estate planning is not the most comfortable topic, but it is one of the most important things you can do for the people you love. We are here to make the process straightforward.