Legal Brief with Alan Tate of Harris Tate www.harristate.co.nz

I have been involved in a few instances recently where people have died, leaving their personal affairs in something of a mess.

Those people ran the family finances using a system known only to them and it has taken a lot of time, effort and cost to unscramble.

While most people are aware that they should make a Will, it can be equally as important to provide survivors with the essential information needed to prevent needless hours of frustration and anguish, at what is a difficult time in any event.

Documents and accounts

That information should include such things as; details of all bank accounts; the whereabouts of all important documents such as insurance policies; user names and passwords for all computers; user names, pin numbers or passwords for all important websites that are accessed via the computer; details of all credit cards and their whereabouts; details of all debts owed and payment terms; a list of all insurance policies by type, for example, life insurance, car, home, health, general and burial insurance; a list of all investments with details of how those investments are administered; tax details and IRD numbers and last, but not least; your preferred funeral arrangements.

Passwords and pins

Some of that information, such as computer access, passwords and pin numbers, do need to be kept secure.

Those details could perhaps be left in a sealed envelope with your Will. Everything else can be left somewhere where it can be easily found or family members could be given copies.

Once done, it is then easy to get it out every year and keep it up to date.

A small amount of time spent now can make a big difference later.