Regional gap in estate planning reveals Aucklanders on thin ice

The Future of New Zealand’s Estate Planning, an independent research report commissioned by Perpetual Guardian, found Auckland residents were at the bottom of the list in almost every estate planning category. This is a major issue, given that around one in three New Zealanders live in our largest city.

Perpetual Guardian chief executive Grant Kemble says the company commissioned the survey to gather more accurate information about New Zealanders’ estate planning and financial protection, including insights around Wills, Trusts, estates and EPAs. “The results of the survey show New Zealand has a lot of work to do in some of these areas, but people in some regions are better prepared than others.”

Wills

One of the biggest gaps between regions was the number of people who had Wills. While 61% of New Zealanders have Wills overall, this dropped to under half (45%) in Auckland. In contrast, none of the other four regions (Wellington, Other North Island, Canterbury and Other South Island) had under 66% of residents with Wills. The best performer was Other South Island, where three quarters of adults (76%) have Wills.

Aucklanders were also less likely to know where their parents' Will is stored. Only 60% of Auckland respondents said they knew this information, compared to the national average of 67%. Residents in the South Island outside of Canterbury were the most knowledgeable, with 81% knowing where to find their parents’ Will.