Allocate your Estate and choose what happens if someone can't take their share
This step lets you divide your residuary Estate by percentage and set an If unable to take option if a recipient
can't receive their share (for example, if they die before you). Your percentages must total 100%.
What is the "residuary Estate"?
Your residuary Estate is everything left after paying funeral and Estate expenses, debts and taxes, and after any
Specific Gifts have been distributed. If a Gift in a will can't take effect, it usually falls into the residue and
is shared under these percentages.
How do I complete this page correctly?
- Add each recipient you want to share in the residue (people and/or organisations).
- Enter a percentage for each. The total must equal 100% (use "Divide Shares Equally" if helpful).
- Choose an If unable to take option for each recipient (what happens if they cannot receive their share): see options below.
- Keep names consistent with your Beneficiaries list so everything lines up cleanly.
What do the If unable to take options mean?
- Family line - If a recipient cannot receive their share, their children - and then further descendants - receive that share.
- Other beneficiaries - If a recipient cannot receive their share, the remaining Beneficiaries share it between them.
Tip: Many people choose Family line for close family so a Child's branch is not accidentally skipped.
What about organisations and minors?
- Organisations (charities, trusts, companies): use the full legal name; for charities, add the register details when available.
- Minors: it's fine to include Children. Funds are typically held until they reach adulthood (or in stages if you set this elsewhere).
Common mistakes to avoid
- Percentages that don't add up to 100%.
- Choosing Other/unspecified relationships earlier, then forgetting to fill in Specify Other.
- Using nicknames or informal organisation names (use full legal names; add charity register details when possible).
- Leaving all recipients on the same If unable to take option when your intent differs (e.g., family vs charities).
Most people:
Split the residue between close family and use Family line for them; charities are often set to Other beneficiaries.
Note:
If a Specific Gift fails or there's anything left over, it falls into the residuary Estate and is divided by the percentages on this page.
Typically:
Families click "Divide Shares Equally" first, then fine-tune a few percentages and If unable to take options.
Recommendation:
Double-check totals hit 100% and If unable to take options reflect your real intent for each recipient.
Quick Questions
- What happens if a Gift can't be made? It generally falls into the residuary Estate and is shared by your percentages.
- Can a Beneficiary also be an Executor? Yes - that's common in NZ wills.
- What if my partner later claims relationship property? NZ law allows a surviving partner to elect a relationship-property division; this can affect what's available to your Estate.
- What if a family member says the Will is unfair? Some close family can apply to the Court for support out of the Estate (separate to what you've allocated here).