Securing Your Legacy: A Definitive Guide to Estate Planning & Administration in NZ

New Zealand is currently entering a period of unprecedented wealth movement. Research from Public Trust and JBWere indicates that intergenerational inheritances are expected to rise from approximately $27 billion in 2024 to a staggering $1.6 trillion by 2050. This massive shift represents the hard work of generations, yet a significant gap exists in how this wealth is protected. Current data shows that only about 50% of adult New Zealanders have a will, leaving a vast amount of assets vulnerable to rigid legal rules and potential family disputes.

At PK Law, we view estate planning as a critical risk management tool rather than a simple administrative task. In our experience, high-net-worth individuals and families benefit most from a strategy that integrates wills, trusts, and enduring powers of attorney into a cohesive plan. Whether you are managing a business in Auckland or planning for retirement in Christchurch, professional guidance ensures your assets reach the right people at the right time.

• The intergenerational wealth transfer in New Zealand will reach $1.6 trillion by 2050, making proactive planning essential for family legacy.
• As of late 2025, the probate threshold has increased to $40,000, affecting how many estates require formal High Court involvement.
• Dying without a will triggers specific statutory formulas that often distribute assets in ways the deceased did not intend.
• Enduring Powers of Attorney are vital for moving personal care and property if you lose the capacity to make decisions.

We provide expert estate administration support to help families navigate these requirements with confidence and clarity.

A professionally drafted will serves as the cornerstone of your estate. It allows you to choose your executors, appoint guardians for your children, and specify exactly how your assets should be distributed. Without this document, your estate is subject to the Administration Act 1969. Under these rules, if you leave a partner and children, your partner receives personal chattels, a statutory legacy of $155,000, and only one-third of the remaining estate, while the other two-thirds goes to your children. This often creates financial hardship for a surviving spouse who may have expected to inherit everything.

We recommend reading our ultimate guide to NZ wills and estates to understand why dying without a will is so costly and complex. Beyond simple distribution, a will provides the opportunity for philanthropy. Currently, only 1.3% of inheritances in New Zealand are allocated to charities. Including a charitable bequest allows you to support causes you care about as part of your lasting legacy.

Wills Pricing at PK Law

We provide fixed-fee drafting to give you certainty. All prices exclude GST.

• Will Complexity Level 1 (Individual): $650.00
• Wills Complexity Level 1 (Couple): $1,100.00
• Will Complexity Level 2 (Individual): $800.00 (Includes life interests, businesses, or blended families)
• Will Complexity Level 2 (Couple): $1,450.00
• Will Complexity Level 3 (Individual): $1,200.00 (Includes capacity issues or high complexity)
• Will Complexity Level 3 (Couple): $2,200.00

Estate administration is the practical process of dealing with a person's assets and debts after they pass away. A major change occurred on 24 September 2025, when the probate threshold increased from $15,000 to $40,000. This means that if a deceased person holds more than $40,000 in assets in their sole name at any single institution, the executors must apply for a grant of probate from the High Court.

This change is particularly relevant because the average KiwiSaver balance is now $37,079. Many New Zealanders who consider their estates modest will find that their KiwiSaver alone pushes them over the $40,000 limit. The High Court process for probate and letters of administration in New Zealand typically takes up to a couple of months, during which time assets remain frozen. Proactive structuring and correct titling of assets can sometimes simplify this process for your loved ones.

Administration Costs

• Probate Application (Level 1): $2,500.00 plus $269 High Court filing fee.
• Letters of Administration (Level 1): $3,300.00 plus disbursements (filing fee, will search, and status of children search).
• Complexity Level 2 Applications: From $4,500.
• Complexity Level 3 (Contested cases): From $7,000.

New Zealand has a high rate of trust ownership, with estimates suggesting there are between 300,000 and 500,000 trusts for a population of five million. While New Zealand has no estate or inheritance taxes, the trustee tax rate increased to 39% on 1 April 2024. This makes expert review of your trust structures essential to ensure they remain fit for purpose.

Equally important are Enduring Powers of Attorney (EPAs). These documents appoint someone to make decisions on your behalf if you become unable to do so. We've seen many cases where a lack of EPAs forced families into slow and expensive Family Court applications to appoint welfare guardians or property managers. Obtaining expert elder law advice ensures you have both Personal Care and Welfare and Property EPAs in place before they are needed.

Trust and EPA Pricing

• Simple Trust Setup: $1,950.00.
• Complex Trust Setup: $2,450.00.
• Simple EPA (Property + Personal, Individual): $1,000.00.
• Simple EPA (Property + Personal, Couple): $1,800.00.
• Complex EPA (Property + Personal, Couple): $2,300.00.

Many New Zealand families now hold assets overseas, such as retirement accounts in Australia or property in the UK. We provide cross-border estate administration services, working with international legal experts to ensure foreign assets are handled correctly. Managing these complexities requires a steady hand and a clear understanding of how different legal jurisdictions interact.

If a dispute arises during administration, such as a claim under the Family Protection Act, we offer an Estate Resolution consultation for $750.00. This includes a full document review and initial assessment to help you understand your position and the likely path forward.

We believe that effective estate planning is a final act of care for your family. Our role is to provide the reassurance that comes with knowing your affairs are in order. By combining technical expertise with an empathetic approach, we help you build a plan that protects your wealth and honours your wishes. Whether you are reviewing a long-standing trust or drafting your first will, we are here to provide the straightforward, professional guidance you need.

_Disclaimer: The information provided in this article is for general informational purposes only and does not constitute legal or financial advice. Laws regarding estate planning, trusts, and probate are subject to change, and individual circumstances vary significantly. You should consult with a qualified legal professional at PK Law to obtain advice tailored to your specific situation before making any decisions based on this content._