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New Zealand’s ageing population has created a boom for retirement villages, with record numbers being developed. For many looking to retire or slow down, retirement village living is attractive – and it’s not hard to see why. A new apartment or cottage in a secure, well-maintained environment, offering a lock-up-and-leave lifestyle, and providing resort-like facilities such as cafes, gyms, pools, bowling greens, libraries and men’s sheds can be very appealing.

Death can bring more than mourning for those left behind. Too often it leads to animosity and arguing around the departed loved one’s Will – especially when its provisions come as a surprise.

If I could choose for every single adult one New Year’s resolution, very high on my list would be getting your affairs in order.

While most people are aware they need a Will, and might have given clear directions as to how they wish their business duties to be dealt with after they pass, many don’t give a second thought to how their business would fare if they were suddenly mentally incapacitated.

For wills to be valid they must comply with a number of legal formalities; they must be in writing and there must be two witnesses who must attest to the will-maker signing the will in their presence.

It has been estimated that there are between 300,000-500,000 trusts in this country. Trusts have been established for many different reasons, including estate planning, creditor protection, to ensure access to rest home subsidies, tax benefits or for protection from relationship property claims.

If you have a family trust set up a number of years ago, it’s good practice to review it to ensure it is still ‘fit for purpose’. Leading on from that is the question that is often asked of us, “Should I bring my trust to an end?”

We talk a lot about the perils of dying without a Will, and the unnecessary mess, stress and cost that can be left behind. Yet, many people still don’t fully appreciate what that actually looks like for loved ones, or how their worldly goods will be divided up.