Your Gifts FAQs

A particular item or sum you identify (e.g., “$5,000 to my niece”, “my Kia Sportage ABC123”, “my vintage Fender Stratocaster”). Anything not given specifically falls into the residuary Estate for percentage sharing later.

Any person or organisation on your Beneficiaries list (including minors and NZ-registered charities, trusts, or companies).

Be as specific as practical: make/model, colour, serial/registration numbers, account or policy numbers, and where the item is kept. Clear identifiers help Executors locate the right asset and avoid disputes.

You can Gift only your share/interest (e.g., “my 50% share in the boat”). If the asset is owned as joint tenants, survivorship may apply and it may not pass under your Will. Clarity about the ownership type matters.

Yes. Describe the asset and account or wallet clearly. Store access credentials securely outside the Will (e.g., with your Executor instructions or a password manager emergency kit), not in the public will text.

You can give a fixed sum to a person or organisation. These are paid before the residue is divided. NZ has no inheritance tax; however, Estate income can be taxable and overseas tax rules may differ for recipients abroad.

If you no longer own a specifically-described item when you die (sold, Gifted, destroyed), the Gift usually fails and nothing is given in its place. Consider using broader wording (“my car”) if you switch assets often, or add a short fallback instruction in the notes.

Yes. If an item is subject to finance or a security interest, your Executors will address that first. State if you intend the item to pass “subject to any debt attached” or prefer a cash alternative if the debt remains.

Yes. Add up to five Gift lines in the same block for that Beneficiary. If you need more, add another block for the same person.

Estate expenses, debts and taxes are handled first. Specific items and cash legacies are then satisfied. Whatever remains forms the residuary Estate, which is divided by your percentages on the Estate page.

A Specific Gift to someone who has already died typically fails unless your Will names an alternative. You can add a short note naming a fallback recipient or allow the item's value to fall into residue instead.

Wills don't automatically index amounts. If you're concerned about inflation, consider reviewing your Will periodically or giving a percentage in the Estate step rather than a fixed sum for long-term Gifts.

Yes. Gift the pet or heirloom to a trusted person and optionally add a small cash legacy for care or upkeep. Keep instructions short and practical in the notes section; lengthy conditions can be hard to administer.

Use the organisation's full legal name. Where possible add NZ Charities Register details. You can leave a fixed sum or a specific item. Executors may request a receipt from the charity on completion.

Precise descriptions and locations help avoid this. Executors can ask for evidence and, if needed, seek legal directions. If an item can't be located, the Gift may fail and value falls into residue.

Yes, but shipping, export rules, insurance, and foreign banking requirements may apply. For valuable items abroad, consider a cash alternative or leave the item to an NZ-based recipient with a separate arrangement.

Not usually for the Will itself. Executors may obtain valuations during administration for insurance, sale, or equitable division. If you expect disputes, a recent valuation or photos can be helpful context (kept with your records, not in the Will).

Review on major life or asset changes (buy/sell vehicles, move house, start/close accounts, new heirlooms). Update and regenerate before signing a new will so the list matches what you actually own.