June 2, 2026

Estate Planning in NZ for Bay of Plenty Families

Trusts

Ensure your trust, estate plan, and trustee appointments work together to protect your assets and carry out your wishes.

A health scare has a way of making things clear. Maybe your own results frightened you. Maybe a friend passed away with nothing sorted, and you watched their family struggle through the mess. Either way, you’re now thinking about your own affairs, and a quiet worry has settled in. You’re not behind, and you are not alone. Estate planning sounds formal, but it really just means deciding who looks after what, and who looks after the people you love, when you no longer can. If you’ve searched estate planning NZ and felt buried in jargon, this guide keeps it plain.

Quick Summary

Estate planning is the process of arranging how your assets are distributed, and who makes decisions on your behalf, after you die or lose mental capacity. In New Zealand, it usually involves a will, an enduring power of attorney, and often a family trust to hold things like the family home. A will is a legal document, but it isn’t legally required, which is part of why only half of New Zealand adults have one. Without a plan, your family may face a slow, time-consuming court process to settle your estate. Good estate planning replaces that uncertainty with a clear, calm set of instructions your family can follow.

What estate planning involves in New Zealand

Estate planning involves putting key documents and decisions in place so your wishes are followed: a will, an enduring power of attorney, and often a family trust. Only about half of New Zealand adults have a will, according to Public Trust. The estate planning process is less about death than control, deciding who inherits, who raises any minor children, and who acts for you if you can’t. Here are the core documents at a glance:

Document	What it does	Who usually prepares it
Will	Names who inherits and who acts as your executor.	Lawyer or trustee corporation
Enduring power of attorney (EPA)	Lets someone make decisions on your behalf if you lose mental capacity.	Lawyer or trustee corporation
Family trust	Holds assets like the family home for protection and succession.	Lawyer to set up, accountant to run
Memorandum of wishes	Guides your trustees on how to use the trust, though it isn’t legally binding.	You, with adviser input

Most New Zealand adults need an estate plan

If you own anything of value, or people depend on you, you need an estate plan. A will isn’t legally required, but if you die without one with assets over $40,000, your family must apply to the High Court for administration, according to the New Zealand Government. That process is slow and time-consuming, and the law, not you, decides who gets what. So do I need an estate plan in NZ? For almost any adult, it’s a good idea, essential once you own a home.

What a good estate planning checklist includes

A good estate plan covers your assets, your documents, and your decision-makers in one place. Here’s an estate planning checklist NZ families can work through:

A current Will that names your executor and your beneficiaries
An enduring power of attorney (EPA) for property, and one for personal care and welfare
A list of your physical assets and where they’re held
Your real estate, including the family home and any rental
Bank account, KiwiSaver, and investment details
Any life insurance policies, and who they pay out to
Whether a family trust holds any of your assets, and who the trustees are

Around 400,000 trusts exist in New Zealand, and many hold the family home for exactly this reason, according to Deloitte. Work through the above list once, then review it after any big life change.

A family trust protects and passes on your assets

A family trust holds assets separately from you, mainly for asset protection and to pass wealth on. Families often use family trusts for the family home, a rental, or a business, with a trust deed naming the trustees and beneficiaries.

If you have a family trust for the reasons above then sometimes there can also be some ancilliary tax benefits.

Mainly though it’s about protection and succession, not lower tax rates. Transferring assets into a trust structure takes care, so if you searched family trust NZ and feel lost, ask whether yours still suits you and who’ll manage the trust next.

An estate trustee carries out your will

An estate trustee, often the executor, gathers your assets, pays debts, and makes sure your assets are distributed as your will directs, handling the estate administration from the date of death. You can name a family member, a lawyer, or a trustee corporation such as Public Trust, so trustee advice up front pays off. If you have a family trust, ask what happens if a trustee dies, moves overseas, or loses mental capacity, and name a successor. Trustee companies can charge up to 5% of your estate’s gross value, according to Consumer NZ.

Estate planning through life’s stages

Estate planning takes on a different shape as life moves on, so match your plan to where you are in these stages. Many people delay, and Public Trust found most don’t feel they need a will until they are over 50. Here is how it tends to look across three stages, particularly for those who are residing in the Western Bay area.

Young Families

With young children, name a guardian for any minor children and set up an enduring power of attorney. A Tauranga couple with a mortgage might hold the family home in a family trust, with life insurance the priority, and blended families need extra care.

Pre-retirement

As the mortgage shrinks and KiwiSaver grows, review your will, check your trust still suits you, and confirm your enduring power of attorney. A Mount Maunganui business owner nearing 60 and looking to retire at 65, should start planning now how the business is passed on.

After you stop working

In retirement, make sure your will reflects your current assets. A Te Puke orchard owner may want the land kept in the family, and now’s the time to write a memorandum of wishes.

Estate planning costs less than most people fear

The costs involved in estate planning vary in NZ. But the basics are more affordable than you might expect. A simple will can be relatively inexpensive, while a family trust costs more to set up and run. The larger expense usually comes later, during estate administration, and those costs come out of your estate. A trustee corporation’s fee can charge up to around 5% of the gross value of your estate. The point isn’t to find the cheapest option. It’s to spend a little now, so your family spends far less stress, time, and money later.

Accountant or lawyer: who do you need?

For most estate planning, you want the services of both an accountant and a lawyer. A lawyer drafts your will, your enduring power of attorney, and your trust deed; your accountant handles the trust structure, tax, and the running of any trust. With the trustee tax rate now at 39%, that structural side matters more than ever, as Inland Revenue makes clear. Ingham Mora isn’t a law firm, but we can point you to a trusted lawyer. We can then help you choose the right trust structure and plan how your wealth passes on.

Frequently asked questions

What does estate planning involve in New Zealand?

It arranges a will, an enduring power of attorney, and often a family trust, deciding who inherits, who acts for you, and who is cared for.

Do I need an estate plan in NZ?

Yes, if you own assets or have dependants, because without a will the courts decide who gets what.

What is a memorandum of wishes, and is it legally binding?

It’s a private letter guiding your trustees on how to use a trust. It is not legally binding, though it carries real weight.

What does an estate trustee do?

An estate trustee gathers your assets, settles your debts, and distributes them under your will, handling the estate administration from the date of death.

What happens to a family trust when a trustee dies, moves overseas, or loses capacity?

The trust continues but needs a replacement trustee, which a well-written trust deed should name in advance.

How much does estate planning cost in NZ?

A simple will is relatively inexpensive; a family trust costs more, and the higher cost is usually estate administration later.

What should an estate planning checklist include?

A current will, an enduring power of attorney, and a list of your assets, including real estate, bank accounts, KiwiSaver, life insurance, and any family trust.

Can an accountant help with estate planning, or do I need a lawyer?

Usually both: a lawyer prepares the legal documents, while an accountant handles the trust structure, tax, and ongoing compliance.

Your calm next step

You don’t have to sort all of this at once. Start with a will and an enduring power of attorney, then look at whether a family trust suits you. If you are in the Western Bay, anywhere from Katikati to Te Puke, we are happy to help you through.

Want peace of mind that your estate is set up properly? Talk to Ingham Mora’s private client team for a confidential review. Book a free chat and reach out today.