Legacies

A legacy is a gift of personal property or money to beneficiaries - people named in your will. A beneficiary may be family, whanau, charities or others.

If you are thinking about setting aside some of your savings now to gift when you die, consider the impact on your retirement lifestyle of not having that money available to spend. Many people choose to view their emergency fund as their gift, assuming they didn't need to use it. Remember, your will doesn't have any legal standing until you die. What you choose to do with any personal property or money while you are alive is up to you.

For more information see Age Concern's Fact Sheet.

Now, read about enduring power of attorney or family / funeral trusts. Or select another topic by using the main navigation menu on the left.