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RTC75: Shit … do we need wills? · The Curve

• 0:00
  Welcome to Raising the Curve, a podcast designed to teach you everything you need to know
• 0:05
  to be better with your money.
• 0:07
  And the wise words of Amy Shurma were slipping carrots into the brownie recipe.
• 0:11
  I don't really get the saying.
• 0:14
  It's kind of like eating vegetables that actually taste good.
• 0:17
  You know, I'm just staring at what you're saying?
• 0:19
  Are you on the script?
• 0:20
  It's basically like saying, investing in finance can be boring, but it totally doesn't
• 0:26
  eat a bit.
• 0:27
  OK, OK, so we're making it fun by putting the carrot.
• 0:31
  OK, the vegetables are just good for you.
• 0:33
  It's the brownie recipe.
• 0:35
  OK, we got there, we got there.
• 0:36
  OK, OK, well, you've really got a finance brain.
• 0:39
  Yeah, one of us has to.
• 0:40
  This is a joke.
• 0:41
  OK, come and learn alongside me from Vick Harris, ex-fun manager,
• 0:45
  where I'm going to ask all the questions that you wish you could.
• 0:48
  And I'm going to be eating all the brownie you wish you could.
• 0:51
  It's so not the joke, Vick.
• 0:54
  OK, just come and talk and learn and laugh with us
• 0:56
  because together we really can raise the curve.
• 1:01
  This is a conversation that we have avoided for a while now.
• 1:05
  Haven't we?
• 1:06
  Death, death, death.
• 1:08
  Thank you for getting straight to the point.
• 1:12
  So we are talking about wills in this episode.
• 1:15
  And that is because we had a friend recently
• 1:18
  had a bit of a horror story where one of her family members passed away.
• 1:23
  We won't say who, because I feel like for privacy reasons,
• 1:26
  she probably would prefer we didn't.
• 1:28
  But essentially, they didn't have a will.
• 1:30
  And all they did it, but it was so old that it was almost null and void.
• 1:35
  And luckily, it didn't cause too much friction between the family.
• 1:40
  They managed to sort it out.
• 1:41
  But it made us think, shit, do we need a will?
• 1:45
  Yeah, yeah.
• 1:46
  When do you need a will?
• 1:47
  What is a will?
• 1:48
  Yes, so many questions.
• 1:49
  I mean, even for me, I'm like, do I even have enough assets
• 1:52
  to even think about having a will?
• 1:54
  I was like, I don't know, it seems like one of those things
• 1:56
  that you sort of just hear about in movies.
• 1:58
  Or you're like, I'm passed away.
• 2:00
  So why should it matter?
• 2:01
  Yeah, it's not my problem.
• 2:02
  I'm dead and gone, not in case of this point.
• 2:04
  But I mean, I think people would care more,
• 2:06
  because you've got a house and you've got more assets than I do.
• 2:10
  But I think what would be interesting is basically to figure out
• 2:13
  if that has any relevance to whether or not you need a will.
• 2:15
  Because some people don't have any savings.
• 2:17
  But does that mean they don't need a will?
• 2:19
  Who knows?
• 2:20
  But we needed a professional.
• 2:22
  Yes, obviously.
• 2:23
  Because do you have one?
• 2:24
  No.
• 2:26
  Do you?
• 2:29
  I feel like I should say yes, but I'm like, no, I don't.
• 2:32
  No, I did go to put one in place,
• 2:34
  and I kind of just got a bit too hard busking.
• 2:38
  And it was literally a form that I got from the post office.
• 2:42
  It was like a, I don't know, will 101.
• 2:45
  And it was like some little survey that you filled out
• 2:48
  and completed, and I couldn't even do that.
• 2:49
  I was like, oh, and it was true.
• 2:51
  I was like, well, when I passed away, I was like, who cares?
• 2:53
  I'm gone, which is very selfish mentality.
• 2:57
  But anyway, we wanted to talk to a professional
• 3:00
  because I think a lot of our listeners
• 3:03
  would be between 25 summer younger, you know,
• 3:08
  right up to 40, 50, 60, we've got a huge different range
• 3:13
  in terms of the listeners on this podcast.
• 3:14
  But the younger ones, particularly,
• 3:17
  I imagine would never have thought about getting a will.
• 3:19
  No.
• 3:20
  I mean, I actually hadn't until our friend
• 3:23
  had given us the story, and all of a sudden,
• 3:25
  Vic and I were at dinner together with her,
• 3:27
  and we were like, do you have a will?
• 3:29
  Do we need a will?
• 3:31
  We're running off now to do a will.
• 3:32
  Yeah, and I was like, I wrote my notes.
• 3:34
  How young are you two young to have a will?
• 3:37
  Remember, this is a good content topic.
• 3:39
  So we have got Belinda Hiennes from Footprint.
• 3:44
  Welcome.
• 3:46
  We're very excited to have you here.
• 3:47
  Thank you.
• 3:48
  I'm excited to be here.
• 3:49
  Thanks for having me.
• 3:50
  Family out of the house so that you can be here
• 3:52
  and not have people running around
• 3:54
  scraming in the background.
• 3:55
  And it's a Friday night in New Zealand,
• 3:57
  so we're very thankful.
• 3:58
  Yes.
• 3:59
  Yeah, thank you so much.
• 4:00
  Friday night, and I don't have a glass of wine, so.
• 4:02
  Oh, do you want to get one?
• 4:03
  What?
• 4:04
  Go and get one.
• 4:05
  Are you sure?
• 4:06
  No.
• 4:07
  We have a glass of wine.
• 4:08
  Well, it's Friday morning.
• 4:09
  Yeah.
• 4:10
  We don't just like to come just to go over.
• 4:14
  We don't.
• 4:15
  No.
• 4:16
  So can I, if we have drinks in the morning,
• 4:17
  we have this huge high, and then about 12,
• 4:20
  we're like, oh, yeah.
• 4:22
  Well, it sounds like we drink in the morning.
• 4:24
  We do not drink in the morning.
• 4:25
  We have one.
• 4:26
  We have one strike in the morning.
• 4:27
  When we drink in the morning, it's not a drink in the morning.
• 4:31
  It's not a drink in the morning.
• 4:32
  Yeah, it should be.
• 4:34
  Belinda, I would love if you could just
• 4:35
  give a bit of an intro.
• 4:37
  Who you are, the work that you're doing,
• 4:39
  I know that's a huge mess of thing,
• 4:41
  and you could do a monologue for an hour,
• 4:43
  but just a quick overview.
• 4:45
  What are you doing for work?
• 4:46
  Who are you?
• 4:47
  Just what's the meaning of happiness?
• 4:49
  Yeah, we'll be correct.
• 4:50
  Agedore the last part, that's not part of what you need to answer.
• 4:53
  Sure.
• 4:54
  So, I'm obviously South African,
• 4:56
  which I'm assuming you know from the surname and the accent.
• 5:00
  I moved to New Zealand in 2008,
• 5:03
  and met my husband here, also a South African.
• 5:07
  Why don't we do that?
• 5:08
  We always just cling to what we know, go away.
• 5:11
  Like over here, if we look at how many Kiwi friends
• 5:14
  we have in London, it's just so funny
• 5:16
  how we gravitate to what we feel comfortable with.
• 5:19
  Cause I had, he moved to New Zealand.
• 5:22
  Yeah, he was here before me.
• 5:24
  So he's been here for 18 years and half, 15 years.
• 5:27
  And we've got a gorgeous little eight-year-old boy
• 5:29
  that thinks he's going on 16.
• 5:31
  And when I moved to New Zealand,
• 5:33
  I started off in recruitment,
• 5:34
  and sort of stayed in recruitment for about six years.
• 5:38
  And then I decided to go into financial services,
• 5:41
  and I've sort of been there for the last nine years.
• 5:44
  I started off in the insurance industry,
• 5:48
  and was a senior manager of operations there.
• 5:52
  I think I had about 65 indirect reports.
• 5:55
  Oh my.
• 5:56
  So it was a massive rock.
• 5:57
  Gosh.
• 5:58
  Talk about absolute boss energy.
• 6:02
  65 people, oh God, I don't know if I can handle that.
• 6:06
  I don't know if you can handle that.
• 6:07
  Could you?
• 6:08
  God is a lot.
• 6:09
  And then I moved into financial wellbeing
• 6:12
  and wills in estate planning.
• 6:14
  And that's where I've been for the last three years.
• 6:16
  I made the move into working with footprint
• 6:19
  because I wanted to sort of focus on my family a bit more
• 6:21
  when I wanted to have a really good work life balance.
• 6:24
  Nice.
• 6:25
  I'd sort of got this perception that you couldn't have
• 6:28
  a senior role and be a good mum.
• 6:31
  And so I'd been prioritising my career quite a lot.
• 6:35
  So I thought, no, this is it.
• 6:37
  I'm now moving and fixing on the family.
• 6:40
  And I've been able to do both.
• 6:42
  I was about to say, do you feel like you've been
• 6:45
  excelling at work as well as at home?
• 6:47
  Definitely, definitely.
• 6:48
  I'm very lucky and I mean, footprint's great
• 6:51
  because we've got a lot of flexibility
• 6:53
  and we're trialling the four day week and things like that.
• 6:55
  So we're able to spend a bit more time with our families
• 6:59
  and do things that we enjoy doing.
• 7:01
  So now I work hard and play hard and enjoy life.
• 7:04
  So it's good.
• 7:05
  Can we try on a four day week?
• 7:07
  I was just going to say, because looking at me,
• 7:08
  like she had this thing, like, please, please, can we try?
• 7:11
  I'd love for you.
• 7:12
  Looking at me as if I'm the boss, which I'm totally not.
• 7:15
  Oh, you would do a four day week though.
• 7:18
  Yeah, I'd love for you.
• 7:20
  I mean, one day, who knows?
• 7:22
  I mean, I'm happy to give you all of my work
• 7:24
  if you reckon you'd do it in four days.
• 7:27
  We work 24 hours a day for four days
• 7:28
  and then you can have a last step yet.
• 7:30
  Oh, God.
• 7:31
  So also, I just want to say, this is not a sponsor's episode.
• 7:35
  At all, we just were genuinely interested
• 7:37
  about understanding wills in the space.
• 7:39
  This is for our own interest, really.
• 7:42
  Well, basically using this podcast
• 7:44
  to have our own situations.
• 7:46
  All right, firstly, let's get talking about actually
• 7:49
  wills in general.
• 7:50
  Can you explain in very layman's terms
• 7:54
  what actually is a will?
• 7:56
  I'm going to actually, can I give it my,
• 7:58
  hold on, wait, wait, wait, wait.
• 7:59
  You're going to take a step.
• 8:00
  Yeah, I want to take a step.
• 8:00
  Can I take a step?
• 8:01
  So is a will, a legal document that can you take over?
• 8:07
  A legal document that divides up all the states.
• 8:14
  Sorry, where you're, I'm not Googling this.
• 8:17
  This is from my brain.
• 8:18
  A legal document that dictates where,
• 8:21
  who and where your assets go when you pass away.
• 8:25
  How do we go?
• 8:27
  Are you done a team?
• 8:28
  That's a fantastic answer.
• 8:31
  But I knew that even more layman's terms.
• 8:35
  Even more layman's terms.
• 8:37
  Assets is even quite a full-on word, right?
• 8:39
  And so we just refer to it as your stuff.
• 8:43
  And how do you want your stuff to be distributed once?
• 8:47
  You're no longer here.
• 8:49
  And so there's a few key things that I guess
• 8:51
  go into a will that you need to sort of think about.
• 8:55
  And those things would be things like an executor,
• 8:59
  who's the most important person within the will
• 9:02
  when it comes to making sure that things are done correctly.
• 9:05
  So is that someone that you put in, sorry, oh my gosh,
• 9:08
  is that someone that is essentially when you do die?
• 9:12
  Actually, implements the will.
• 9:14
  So they're kind of like your director of the will.
• 9:17
  That's it, yep.
• 9:19
  And they legally and personally liable for making sure
• 9:22
  that it's done correctly.
• 9:23
  I don't want to be personally done correctly.
• 9:25
  Could be my director of my will?
• 9:28
  Your director.
• 9:29
  Could she be my executor, sorry.
• 9:31
  Oh, yes.
• 9:32
  Yeah.
• 9:33
  You're executor, yes.
• 9:34
  I have been the personal liability to make sure it's done
• 9:37
  how you set it.
• 9:38
  I don't want that.
• 9:39
  Really?
• 9:40
  Yeah.
• 9:41
  But if I die, you wouldn't feel like quite honoured
• 9:42
  that I'd said, please help me with my assets.
• 9:44
  I'd be grieving.
• 9:45
  Oh, yeah, yeah, true.
• 9:47
  But then what if I left you some of the will?
• 9:48
  Exactly.
• 9:49
  There's a lot of people that think like that.
• 9:50
  So when you're selecting your executor,
• 9:52
  you need to think of those things.
• 9:53
  And you need to think about the person that you put in that.
• 9:57
  Are they good with paperwork and admin tasks?
• 10:00
  She is.
• 10:01
  And what will they be going through at the time?
• 10:08
  Yeah.
• 10:09
  You want to hear that much, would you?
• 10:13
  No comment.
• 10:15
  But I just be stoked to get 100 bucks.
• 10:17
  100 bucks.
• 10:18
  That was so bogant down there.
• 10:22
  Yeah.
• 10:23
  I think deciding on your executor, it's so true.
• 10:27
  It's like, yes, you want someone really close to you that knows you well
• 10:29
  and will do what you say and know how you would feel in terms
• 10:34
  of dishing out your stuff.
• 10:36
  But then you'd also want someone that's a bit removed
• 10:39
  because gosh, having to grieve and then deal with that,
• 10:42
  like I would hate to burden someone with that.
• 10:44
  So there was a subtle step.
• 10:45
  Don't make me your executor.
• 10:49
  I would hate to burden someone.
• 10:50
  I would hate to burden someone with the paperwork.
• 10:54
  Sorry, we're kind of a bit loopy this morning.
• 10:56
  I'm enjoying it.
• 10:57
  I'm not going to lie.
• 10:58
  It must be all the wine.
• 11:01
  And so then in terms of, had you finished that, no?
• 11:04
  No, so sorry.
• 11:05
  Well, there's a few other important things
• 11:07
  that go in there like guardians and who you want
• 11:09
  to look after your children or your pets or your fair babies,
• 11:14
  funeral wishes and gifts of significance.
• 11:17
  So if you have that jewelry that you've got sitting there
• 11:20
  that you're wanting to give Sophie.
• 11:22
  Sorry, I'm just taking notes.
• 11:23
  This is great.
• 11:27
  You can do it after the episode, you know?
• 11:28
  Like, can you just focus on task in hand?
• 11:31
  I need to do a well, so I'm just taking notes.
• 11:34
  So in your well is not only money and things that you own,
• 11:38
  but people, so children, dogs, anything in your life,
• 11:44
  any stuff in your life, basically, that needs to be redirected
• 11:47
  or responsibility.
• 11:48
  That's exactly it.
• 11:49
  So you could have something like a sentimental guitar
• 11:51
  that you wanted to go to a certain person or a...
• 11:55
  Yes.
• 11:56
  Or anything you have.
• 11:57
  Yeah.
• 11:58
  Or your podcast stuff you may want to pass on.
• 12:01
  It's so weird to think about all that.
• 12:03
  It's so weird to think, would anyone even want
• 12:06
  my sentimental stuff?
• 12:07
  Or like, also, if I gave this to you and you're like,
• 12:10
  cool things, you know?
• 12:11
  And I reckon I'll sleep with it in a kiss of your day
• 12:14
  and miss you so much.
• 12:15
  And also, how far do you go down?
• 12:17
  Like, what about your clothes and your shoes?
• 12:18
  Underwear and...
• 12:19
  Yeah, like, at what point does it...
• 12:21
  But you're like, can I just stop now?
• 12:23
  Stop now? Like, yeah.
• 12:25
  Well, it's up to each person.
• 12:26
  So some people just go, I leave everything that I have
• 12:30
  to my husband and he was going to sort it out.
• 12:33
  That's a lazy old writer.
• 12:34
  I reckon.
• 12:34
  Wrapped it down.
• 12:35
  But I'm just like, that's what's in my world.
• 12:37
  LAUGHTER
• 12:38
  Definitely.
• 12:41
  Yes.
• 12:42
  And then so...
• 12:43
  OK, so say I have a will.
• 12:44
  I've put all these funeral wishes.
• 12:47
  I've put my executor on paper and my gifts of significance
• 12:51
  and all that.
• 12:52
  And now I've passed away.
• 12:54
  What happens?
• 12:55
  Like, what, where do you put it?
• 12:56
  Do you have your head in the ground like a time capsule?
• 12:58
  Do you lodge it on the internet?
• 13:00
  Like, what do you even do with it?
• 13:01
  Do you have to let the executor know, like,
• 13:03
  you're the executor where we are?
• 13:05
  So many questions.
• 13:06
  So, where do you put it?
• 13:08
  There's a very good question.
• 13:09
  So it's always important to store it somewhere safe,
• 13:12
  but not safe enough that no one knows where to find it
• 13:14
  because they need the original world
• 13:16
  to be able to go for probate, which is the next step
• 13:19
  once you pass away, that your executor goes and does.
• 13:22
  And that's sort of where they go to court
• 13:25
  and say, this is the last will.
• 13:27
  And basically, the court approves them
• 13:29
  to be able to go through and process your estate
• 13:32
  to go through a state administration.
• 13:34
  Everyone has to go to court to start actioning the will.
• 13:38
  You can't just go to a lawyer and say, this is the will.
• 13:40
  So once your assets or your stuff reaches
• 13:43
  a threshold of $15,000, it then
• 13:47
  means that you need a will in place
• 13:49
  if you want to decide who gets your stuff.
• 13:51
  If it's under $15,000, then your family can just deal with it
• 13:54
  and it doesn't have to go through the same process.
• 13:56
  It doesn't have to go through being administered
• 14:00
  and things like that.
• 14:01
  Your family can just do that.
• 14:03
  So, but anyone else, yes, it has to go through that process.
• 14:07
  To people have to pay to go to court, like, if you've,
• 14:10
  like, if it dies, she says, here you go.
• 14:13
  So if you're my executor, this is the will,
• 14:15
  I have to pay to go to court to start implementing her will.
• 14:19
  So how much, if I to ask you, how much do you think?
• 14:21
  If you had to guess how much it is to what the average
• 14:25
  estate administration fee is, what would you think?
• 14:29
  Couple of hundred.
• 14:30
  Is that to go to court?
• 14:31
  Is that what you mean?
• 14:32
  Like, what you would have to pay does that?
• 14:33
  That's to administer your estate.
• 14:34
  So administering your status, things like closing down
• 14:36
  your bank accounts, closing down your end revenue.
• 14:39
  Oh, how annoying.
• 14:40
  Sticking any debt you have.
• 14:42
  This is so much.
• 14:43
  A couple of thousand.
• 14:44
  I've got no idea.
• 14:45
  Is this including the court fees and everything?
• 14:47
  Yeah.
• 14:48
  The average fee for a standard administration is $10,000
• 14:53
  with a will in place.
• 14:54
  So that's what it got cost someone.
• 14:57
  And it takes six to 12 months to administer your estate
• 15:01
  with a will in place, with no will.
• 15:03
  It's 50% more and 50% longer.
• 15:07
  So if I had $16,000 and I had a will in place,
• 15:12
  you'd spend 10 of that swallowing it out.
• 15:15
  That seems barbaric.
• 15:17
  It's like, cool.
• 15:18
  Now I've got $6,000 to give you.
• 15:20
  All that.
• 15:21
  Don't worry about it.
• 15:22
  Yeah.
• 15:23
  Remember that's an average.
• 15:24
  So it depends on the size of your estate and whatnot.
• 15:27
  Also, the courts must be so busy.
• 15:29
  Every person passing away has to go to court.
• 15:32
  Yeah.
• 15:33
  Gosh.
• 15:34
  That needs to be digitised.
• 15:35
  Yeah.
• 15:36
  Yeah, that's why it takes so long.
• 15:38
  If it's with the will, it's taking six to 12 months.
• 15:41
  So without you looking at 12 to 18 months before
• 15:45
  you loved one and see that money.
• 15:46
  Hold on.
• 15:47
  So what say Sophie is married to Jim?
• 15:50
  And Jim is loving husband.
• 15:56
  We've got a couple of cute kids.
• 15:58
  And I won't go too much into my fantasy here, however.
• 16:02
  Say I die.
• 16:05
  Can I just have written on a napkin?
• 16:07
  Hey, babe.
• 16:08
  All my stuff's yours.
• 16:10
  Don't worry about going to the court and figuring it out.
• 16:13
  How can you just, is there any way of avoiding all of that nonsense?
• 16:17
  No.
• 16:18
  Not when your assets reach $15,000.
• 16:20
  Right.
• 16:21
  No.
• 16:22
  Yeah.
• 16:23
  You have to go through a process.
• 16:25
  And so the process, if you didn't have a will in place,
• 16:28
  would be that there's like a process in place.
• 16:31
  That's automated, I guess, in some sort of way.
• 16:34
  It figures out who you've got left in your life as in family members.
• 16:39
  And so most people think, oh, I've got a husband,
• 16:42
  everything goes to my husband.
• 16:43
  It doesn't work like that.
• 16:44
  It depends on who else you have left in your family.
• 16:47
  And a portion of that gets then distributed to other people
• 16:51
  within your family.
• 16:51
  So you could have an estranged aunt that you haven't spoken to
• 16:55
  for 20 years.
• 16:56
  And she could end up with part of your estate,
• 16:59
  based on how your family is set up.
• 17:02
  You could have a young Jimmy knocking on the door going,
• 17:04
  hi, I'm your long-lost child.
• 17:06
  I want half your estate.
• 17:08
  I think if my husband or his junior would hope,
• 17:10
  no, they not have a child.
• 17:11
  Could you not?
• 17:12
  No, but I remember talking to my mum, actually.
• 17:17
  And I don't know if this is podcast appropriate,
• 17:19
  but anyway, I'll say it.
• 17:20
  Her and dad set me down and me and my sister,
• 17:22
  and we're like, okay, this is where our bank account
• 17:24
  answers our will.
• 17:25
  This is, you know, like this is all the processes
• 17:27
  if we pass away.
• 17:28
  When was this?
• 17:29
  Sorry.
• 17:30
  This was probably quite a few years ago now.
• 17:31
  I've forgotten all of it.
• 17:32
  So really good conversation.
• 17:33
  We hear it, obviously.
• 17:35
  And she goes the first thing you should do
• 17:39
  is go to the bank and get cash out,
• 17:42
  go and get cash out of our bank accounts,
• 17:44
  because they freeze them or like, you know,
• 17:46
  if it's going to take 12 to 18 months to sort,
• 17:48
  they'll have things they still need to pay for and stuff.
• 17:51
  So they're like, go to the bank.
• 17:52
  And rinse them.
• 17:53
  Yeah, what?
• 17:54
  I know.
• 17:55
  And I was like, you would have just passed away
• 17:57
  and here I am running to the end.
• 17:59
  Give me $10,000 a month's cash.
• 18:02
  And I was just like, this is wild.
• 18:05
  But if you have to pay for the funeral
• 18:06
  and you have to, you know, all that kind of stuff,
• 18:08
  I kind of understood what she was coming from.
• 18:10
  But I was like, oh, my God, there's not going
• 18:12
  to be going through my head.
• 18:13
  If you've just passed, you indeed have just passed away.
• 18:15
  My sister will be like hysterically crying.
• 18:17
  I'm like, don't worry, Sarah, I've got this.
• 18:18
  I'm going to the bank.
• 18:20
  It was just so weird.
• 18:22
  But I guess it's kind of what you're saying
• 18:23
  when it takes so long to get through the courts
• 18:25
  and everything divvied up and you've still got bills
• 18:28
  to pay for like funeral and all that.
• 18:30
  Does it kind of make sense?
• 18:32
  Well, it's any personal assets do get frozen
• 18:35
  while it's being worked through.
• 18:36
  Any joint assets don't because in that scenario,
• 18:40
  the other person that asset is joined with
• 18:44
  ends up getting paid it out before it's all settled.
• 18:47
  Got you.
• 18:48
  So if you're thinking about insurance, for example,
• 18:50
  life insurance and you've got a ownership situation,
• 18:55
  the other owner will get paid that out without being frozen.
• 18:58
  Same with bank accounts.
• 18:59
  It's so important to set up your bank accounts correctly
• 19:02
  because exactly that scenario you've just said
• 19:06
  can play out where if your bank accounts on
• 19:09
  set up correctly, they can get frozen.
• 19:11
  But what's not set correctly?
• 19:13
  Is that jointed?
• 19:14
  Well, in the sense, not set up correctly,
• 19:17
  set up in a certain way, I suppose,
• 19:18
  because if your husband and you are sharing a bank account
• 19:21
  and it hasn't been set up in the correct ways,
• 19:24
  then it could all get frozen.
• 19:25
  Or if you have your bank account separate,
• 19:28
  then you could end up in a situation.
• 19:29
  We have an example of a husband and a wife
• 19:33
  who were married and they were a second marriage
• 19:36
  and they were living out of his bank account.
• 19:38
  And because they were living out of his bank account
• 19:41
  and hadn't set up as someone that could access
• 19:44
  and as an owner,
• 19:46
  she, when he passed away, got frozen
• 19:48
  and she ended up having to go and ask family for money.
• 19:52
  She was going through such a terrible time of hardship
• 19:55
  and couldn't make ends meet.
• 19:58
  And so at a time when you're grieving,
• 19:59
  like, that's the last thing you want to be able to,
• 20:01
  you want to go through.
• 20:02
  But are you saying that you have to have a shared account
• 20:06
  to be able to, if your partner wants to still access that?
• 20:10
  But that kind of sucks, though, doesn't it?
• 20:11
  Because it's like, but if you're passed away
• 20:13
  and you've got your own bank account,
• 20:15
  then it's, then that's kind of...
• 20:17
  But go to the bank and talk to them.
• 20:19
  Like, have these conversations with the bank.
• 20:21
  That's the important thing.
• 20:22
  I think people just need to understand
• 20:23
  that they need to be able to ask these questions
• 20:26
  and it's okay to ask these questions.
• 20:28
  That's a good point.
• 20:29
  You know, even if you have your individual bank accounts
• 20:31
  and going to have a conversation with bank,
• 20:33
  I can't give advice on how to set up your bank accounts.
• 20:35
  So I can't tell you that.
• 20:37
  But you're anything that's in your personal name
• 20:40
  or personal assets gets frozen when you pass away.
• 20:43
  How does the bank know you're gone?
• 20:45
  Are they checking the newspaper, like, you know,
• 20:47
  a bit trees every day?
• 20:48
  I don't know about banks,
• 20:49
  but I know, like, from a world and a lawyer side
• 20:53
  and that type of thing,
• 20:54
  there's companies that basically are set up
• 20:57
  to be able to go and do those searches.
• 20:58
  I imagine if that was your job
• 21:01
  and you were just in charge of telling people
• 21:03
  someone died.
• 21:04
  God.
• 21:06
  Hope your family's coming forward and saying something
• 21:09
  to the bank.
• 21:10
  I always think I would tell my family to not bother.
• 21:12
  I'd just be like,
• 21:13
  Do not alert anybody of my passing.
• 21:16
  Nobody will notice.
• 21:17
  I'm gone.
• 21:18
  Just slide it under the wrong.
• 21:20
  Don't even worry about it.
• 21:21
  I don't need a mention in the paper.
• 21:23
  Access all my stuff, you know?
• 21:26
  Like, maybe that's what your mum was meaning.
• 21:27
  Like, get the money out before you notify.
• 21:29
  Yeah.
• 21:30
  So that you can at least deal with it with my money.
• 21:33
  Yes.
• 21:34
  You know, et cetera.
• 21:35
  Good idea.
• 21:36
  Yeah.
• 21:37
  Oh my God, I've so many questions.
• 21:38
  Same.
• 21:39
  So can we just go...
• 21:40
  So if you don't have a will in place,
• 21:41
  what is the process then?
• 21:44
  Because I mean, a majority of our listeners,
• 21:45
  I would assume don't have a will.
• 21:48
  So what would that entail once they pass away?
• 21:51
  So in that scenario,
• 21:53
  the legislation steps in and decides
• 21:57
  how your estate is distributed.
• 22:00
  And that's where that process that I mentioned before
• 22:03
  comes in and there'll be some technical thing in the background
• 22:08
  that figures this out.
• 22:09
  I'm assuming.
• 22:10
  But basically it will be based on whoever's left in your...
• 22:14
  left in your family.
• 22:16
  And your...
• 22:17
  So if you didn't, you obviously wouldn't have had an executor.
• 22:20
  So therefore you will be...
• 22:22
  The courts will just allocate someone to you.
• 22:24
  So it could be a trustee company, for example.
• 22:27
  And they will go through a process of following the same types
• 22:31
  of things, looking at what assets you had.
• 22:33
  So the reason it takes so much longer is because none of this is
• 22:36
  documented in a world.
• 22:38
  And so, yeah.
• 22:39
  The biggest thing I can say is just put a will in place
• 22:42
  because it helps reduce the time.
• 22:45
  It makes it a lot easier for your family
• 22:48
  and your loved ones to be able to access those funds.
• 22:51
  And it's about making sure that you're protecting those
• 22:56
  that you're leaving behind.
• 22:58
  Well, it really isn't actually about you.
• 23:00
  It's an issue that the person creating it.
• 23:02
  But it's about the people that you leave behind.
• 23:04
  So you sort of need to remove yourself from the situation
• 23:07
  of thinking it's about you.
• 23:09
  That's a good point.
• 23:10
  Yeah.
• 23:11
  Can the regulator say, I've actually got a cousin
• 23:14
  that I'm going to distribute this person's money to?
• 23:17
  Like, are they legally required to give that to family members?
• 23:21
  Religious later.
• 23:22
  Sorry.
• 23:23
  What did I say?
• 23:24
  Regulately.
• 23:25
  I mean, it kind of works to me.
• 23:26
  You know what I mean?
• 23:27
  Yeah.
• 23:28
  Do they, is there any, like, blurry lines
• 23:31
  where those people could make decisions on someone else's money stuff
• 23:35
  to not go the right people?
• 23:37
  Do you know what I mean?
• 23:38
  Like, as an effort dies and she doesn't have a will.
• 23:40
  Could the, is it the regulator?
• 23:42
  Religious later.
• 23:43
  Come in and be like, then they allocate a company or someone to do it.
• 23:48
  Yeah, but can that company do something messed up
• 23:50
  with it where her family doesn't get the assets?
• 23:53
  You know, like, they'll go through that process.
• 23:55
  So it's actually documented.
• 23:56
  And if you had to go and look at, you know,
• 23:58
  go look it up in that type of thing.
• 23:59
  It would tell you, for example, if you had a spouse
• 24:04
  and you ended up with not having any children, for example,
• 24:08
  but you've got parents, then your parents end up getting a third
• 24:11
  of your estate as an example.
• 24:13
  Oh, okay.
• 24:14
  So there's like rules kind of.
• 24:16
  So there's like a calculation that goes and works those types of things out.
• 24:20
  So it's not just like a joe blog that's like,
• 24:23
  I think this person should get this.
• 24:25
  There's like a formula they follow, basically.
• 24:27
  Yes.
• 24:28
  No, a formula.
• 24:29
  And that's how you're estranged on to could end up with money
• 24:32
  when you don't want to do.
• 24:33
  I think that's quite fascinating though.
• 24:35
  I think, well, I personally didn't know that they don't decide
• 24:40
  the executor is someone in your close-knit family.
• 24:43
  They are the executor and then they're deciding how to divv it up.
• 24:46
  So it's not like saying, you don't have a will, but hey,
• 24:48
  you've got a sister, we're going to make her the executor
• 24:52
  because she knows you best and she can decide.
• 24:54
  They are that person.
• 24:56
  This random company person that you have never probably met before
• 25:00
  is going to decide how it's divvied up.
• 25:02
  Which I think is people probably think,
• 25:04
  oh, well, it'll just mean that my parents will make the decisions.
• 25:06
  It's like, no, no.
• 25:07
  So true.
• 25:08
  Yeah, no, no.
• 25:09
  It goes to a third party and then they make the decisions effectively
• 25:12
  give that money back to your parents.
• 25:14
  Yeah, that's possible.
• 25:15
  But yeah, I think that.
• 25:16
  Although, remember that is what their business is.
• 25:19
  So they, when we say that, you know,
• 25:22
  that your executor is legally financially liable
• 25:26
  for making sure that it's done to a T,
• 25:30
  any mistakes that they make is on them.
• 25:33
  Yeah.
• 25:34
  So if you're going to a business that that's what they do as a
• 25:37
  business, then at least the liability sits on them.
• 25:40
  But I think what VIX basically trying to say is just that if
• 25:43
  you don't have a will, thinking about if you die,
• 25:46
  some random person and some random company is deciding how
• 25:51
  all of the money that you have made, all the stuff that you've
• 25:54
  collected throughout your life is going to be divided,
• 25:56
  is made by someone who has absolutely no connection to you.
• 25:59
  Yeah.
• 26:00
  It's not that they're going to be able to do something dodgy.
• 26:02
  It's more the fact that you would think that that's quite a
• 26:05
  personal thing and that you would like someone who has
• 26:08
  your best interest, your family, your friends, best interest
• 26:10
  at heart, making those decisions.
• 26:12
  Definitely.
• 26:13
  Definitely.
• 26:14
  And that's the key thing.
• 26:16
  Have your say.
• 26:17
  It's about you being able to have your say.
• 26:19
  So if we were to think about the idea of how young
• 26:22
  is too young to have a will or how much stuff do you need
• 26:26
  to have to have a will, would you say the general rule of
• 26:29
  thumb is it's not so much about age, but it's more about what
• 26:32
  you have.
• 26:33
  And if you have over $15,000, you should have one or $15,000
• 26:38
  worth of anything that's worth $15,000.
• 26:41
  Yeah.
• 26:42
  So there's a couple of things there.
• 26:44
  There's a huge misconception around being too young and
• 26:47
  we hear it all the time.
• 26:49
  I'm too young and I don't have any assets.
• 26:51
  So therefore I don't need one.
• 26:53
  Anyone over the age of 18, not 15, please.
• 26:56
  No.
• 26:57
  Can put a will in place.
• 27:00
  So if we're looking at how many people have a will in New Zealand,
• 27:03
  50% of New Zealanders have a will and 91% of them are retirees.
• 27:08
  So that shows you the gap that we're trying to close on
• 27:11
  walls.
• 27:12
  Wow.
• 27:13
  And only so if we think about the listeners that would be
• 27:16
  listening into this, I think it's around 7% of 20 to 35
• 27:20
  year olds have a will.
• 27:22
  Seven percent.
• 27:23
  Wow.
• 27:24
  And so if we think about the aging population at the moment,
• 27:27
  it is an aging population.
• 27:30
  We're hearing things around trillions of dollars being transferred
• 27:36
  to millennials in the next 20 years.
• 27:39
  And those millennials don't have a will.
• 27:42
  They haven't got a will in place.
• 27:45
  And I would say way more than 7% would have at least $15,000
• 27:49
  of assets.
• 27:50
  Whether it be a car, a house, savings.
• 27:53
  Totally.
• 27:54
  Anything.
• 27:55
  Yeah.
• 27:56
  Can we save it?
• 27:57
  Can we save it as an asset?
• 27:58
  And the average asset, the average can we save is 27,000 at the
• 28:01
  moment.
• 28:02
  So, you know, the thing would specify as an asset and help build
• 28:07
  that is things like shares or life insurance, can we save
• 28:11
  your car as you say?
• 28:13
  And everyone always forgets their personal belongings.
• 28:16
  So, you know, it's not your house at home.
• 28:18
  Like all the things you've got in there.
• 28:20
  It can quite easily reach $15,000.
• 28:23
  Yeah.
• 28:24
  Do you think that percentage is so low because people think
• 28:27
  it's time consuming.
• 28:29
  It's costly.
• 28:30
  You know, like what do you think the big barriers are to,
• 28:33
  you know, apart from education, but, you know, in terms of
• 28:36
  actually putting a will in place?
• 28:38
  Definitely.
• 28:39
  There is a lot of people that think it's time consuming.
• 28:43
  It's also a topic that I think people are nervous to talk
• 28:46
  about or nervous to sort of talk to.
• 28:49
  It's a lot cheaper or a lot cheaper and a lot easier than
• 28:53
  people think.
• 28:54
  You can do a will online in 15 minutes.
• 28:58
  And you can do it from the comfort of your home.
• 29:00
  So, you can sit on the couch at home while you're watching TV
• 29:02
  and do it.
• 29:03
  And it's a question answer form of things, you know, like your
• 29:06
  name and what your mother's name is and your father's name and
• 29:08
  things like that.
• 29:09
  And it can cost as little as $85.
• 29:12
  So, gone other days where you have to spend hundreds of
• 29:15
  dollars going and putting a will in place.
• 29:17
  Obviously, there's different situations.
• 29:19
  If your situation was more complex and you needed some additional
• 29:23
  support around that, you know, if you had business and things
• 29:26
  like that, then you may want to sit down with someone and have
• 29:29
  that conversation and have a more complex will put in place.
• 29:32
  But it doesn't have to be difficult.
• 29:35
  And it's about having that piece of mind and giving your
• 29:39
  family that piece of mind when you're grieving or when they
• 29:42
  grieving, sorry, that you've made it as easy as possible
• 29:46
  on them.
• 29:47
  Oh my god.
• 29:48
  You know, at the start of that answer, you said, you know,
• 29:50
  a lot of people just avoid it because it's an uncomfortable
• 29:53
  thing to think about.
• 29:54
  I totally get that.
• 29:55
  Well, anyone be listening to this podcast.
• 29:57
  Like we're talking about money, which already people are
• 30:00
  uncomfortable.
• 30:01
  And then we're adding wheels on top of it.
• 30:03
  I'm like, do you like money?
• 30:05
  Yeah.
• 30:06
  The two worst, scariest things that people hate talking about.
• 30:09
  I'm like, I hope people are listening.
• 30:11
  What else could we throw in there?
• 30:12
  We could talk about.
• 30:13
  Monography, maybe like sex, one of the other awkward things.
• 30:17
  Okay.
• 30:18
  So it's not expensive.
• 30:19
  It's really easy to do online, et cetera.
• 30:22
  What other questions do we have in terms of barriers?
• 30:24
  Because I think, I mean, how often should you update it?
• 30:27
  Is it something you need to go back and look at?
• 30:29
  Yes, yes, yes.
• 30:33
  I bump into people that tell me they haven't updated it for 20
• 30:36
  years.
• 30:37
  And you have to keep it up to date.
• 30:39
  We always say, try and update it every two to three years.
• 30:43
  Or alternatively, when you have a big laugh event that's
• 30:47
  happened, things like getting married, having a baby
• 30:50
  buying a house, all those sort of things or big laugh events,
• 30:54
  affect your estate and affect how many assets you have.
• 30:58
  And some of the things that people don't realize is that
• 31:01
  when you get married, if say you have a will in place,
• 31:04
  and then you get married, and in your existing will,
• 31:07
  you haven't put a clause in that.
• 31:09
  It's called a contemplation of marriage clause that basically says,
• 31:12
  my will stays valid after I get married.
• 31:15
  If you haven't got that clause in your will and you get married
• 31:18
  and you don't update your will, your will becomes invalid.
• 31:21
  And this is if you actually don't have a will in place.
• 31:24
  So you pass away, you pass away with no will in place.
• 31:28
  Just don't get married.
• 31:30
  Yeah.
• 31:31
  That's what I take away from it.
• 31:34
  Holy.
• 31:35
  Wow.
• 31:36
  So can you have a napkin will?
• 31:38
  Can you have one written down on paper that you've signed
• 31:41
  that you're like, this is something, can you have a low fire one?
• 31:44
  Or does it have to be lodged formally?
• 31:47
  With a lawyer?
• 31:48
  Yeah.
• 31:49
  Like all that?
• 31:50
  No, so well, I wouldn't recommend either writing it on a napkin.
• 31:54
  But you do, you do pay us.
• 31:57
  What about you?
• 31:59
  You do get wills that you can get through all sorts of avenues
• 32:03
  writing it on a piece of paper is better than nothing.
• 32:06
  However, it needs to be signed and witnessed correctly
• 32:10
  and things like that for it to be valid.
• 32:12
  Obviously being able to put your intentions down
• 32:15
  on a piece of paper again is better than nothing.
• 32:18
  And what would have to happen, I don't quote me on this.
• 32:21
  But basically what would have to happen is that you'd have to have no
• 32:23
  dispute your piece of paper for it to probably go through and be valid.
• 32:28
  Imagine being in a courtroom like, well, this is what she said.
• 32:32
  It's like I've got a bit of tomato sauce on the corner.
• 32:35
  I think it says I get 10,000.
• 32:37
  It could be 10 million.
• 32:39
  I don't know.
• 32:40
  There's a bit of tomato sauce on the O.
• 32:43
  Do you find your job is quite morbid in terms of people coming to you,
• 32:49
  you know, creating worlds, but then also afterwards when they're grieving
• 32:55
  and they're trying to execute the well, how do you deal with that?
• 33:03
  So it's for Prince.
• 33:05
  So we only do the drafting of the walls.
• 33:09
  Okay.
• 33:10
  So we're non-advised.
• 33:11
  We're not executors or anything along those sort of lines.
• 33:14
  But we do hear some stories and we offer and wills as an employee benefit.
• 33:20
  And we often hear it through that journey.
• 33:22
  So we'll hear from the HR manager, for example, that someone in the workplaces passed away or something along those sort of lines.
• 33:28
  We had a situation where someone had taken their will out with us as an employee.
• 33:33
  And their partner was terminal and was going to pass away in the next week or so.
• 33:39
  And we ended up organizing a well for them really quickly before they passed away.
• 33:45
  We organized for during power of attorneys to be put in place for them.
• 33:49
  And they ended up passing away two days after signing it.
• 33:53
  And so yeah, in that situation you hear some really, really tough stories.
• 33:58
  But I can say that I'm just so proud to have been able to in that situation put something in place for that person.
• 34:05
  And for that family, so that we were reducing the hardship on that family.
• 34:08
  So, you know, yes, there's some tough stories you hear.
• 34:11
  But there's also some good ones.
• 34:13
  From my perspective, I look at it as from a well perspective, we were only doing good.
• 34:17
  Like there's no, no negative thing I can tell you about that a will putting a will in place is going to do for you or bring on your family.
• 34:24
  What about situations when, because I mean, even in my family, there was a situation,
• 34:30
  which again, I won't go into detail with, because I feel like it's probably inappropriate to share.
• 34:34
  But where there was a will that was contested.
• 34:39
  Well, no, basically what happened is I think it was changed really close to someone dying.
• 34:45
  And what came out of it was a partner of like not very long ended up inheriting everything.
• 34:53
  And I'd be kind of curious to know how does it work in terms of proving someone's conscious state of mind and, you know,
• 35:02
  in terms of changing those details, whether it's an old person or not.
• 35:07
  Someone that maybe isn't a compromising position.
• 35:10
  How is it proven that when they make those changes, they haven't been coerced or under, yeah.
• 35:18
  Basically every will has to have two witnesses when they're signing the will.
• 35:23
  And so it would be through that process.
• 35:27
  As I say, we don't administer the state since in that side of things.
• 35:31
  So then the process that they go through around that I'm not 100% sure.
• 35:35
  But from our perspective of things, you know, doing a will you have to have it signed and witnessed for it to be valid.
• 35:42
  And it has to have the two witnesses there.
• 35:45
  So from our perspective, it sort of has to be in that side of things.
• 35:49
  I know this is morbid, but like you could have two people there who don't have that person's best interests at heart.
• 35:53
  Yeah.
• 35:54
  That are two witnesses to evil step sisters.
• 35:56
  Yeah.
• 35:57
  Like Cinderella.
• 35:58
  Cinderella.
• 35:59
  Yeah.
• 36:00
  They wouldn't have done what's best.
• 36:01
  Challenge quite often.
• 36:02
  Yeah.
• 36:03
  So it's about making sure that you talk to your family about what you've put in your will,
• 36:08
  why you've put something in your will.
• 36:11
  You're reasoning behind it.
• 36:13
  You know, they're not going to have the opportunity to be able to talk to you and ask you those questions later on.
• 36:18
  So be brave and have those conversations up front.
• 36:21
  And if you're not comfortable doing that.
• 36:23
  Write a letter that you put with your will that explains those types of things,
• 36:27
  because that then supports your thinking behind it.
• 36:30
  What is Victoria?
• 36:31
  What's your question?
• 36:32
  She just put her hand up.
• 36:33
  What if.
• 36:35
  Have you ever heard of situations where someone gets to leave something they don't want?
• 36:40
  Like in terms of like, here's my three kids.
• 36:43
  And you're like, I don't want them.
• 36:45
  You know?
• 36:46
  Like what?
• 36:47
  And there was no discussion between what I was leaving to you or, you know, if I was like, here's me, so my dog.
• 36:53
  And you're like, I don't want me so.
• 36:55
  Yeah.
• 36:56
  What happens?
• 36:57
  Yeah.
• 36:58
  I mean, if it's money, people are probably like, yeah.
• 37:00
  Yeah.
• 37:01
  It would be people that won't.
• 37:02
  So I'm curious to know like, what's the default?
• 37:04
  If someone says, I don't want to accept XYZ.
• 37:07
  So in our wills, we have options.
• 37:11
  And so we suggest always that you select someone, but then select a backup person as well.
• 37:17
  And so we have that with executive.
• 37:20
  It's key with executive to have a backup.
• 37:22
  We have that with a guardian.
• 37:24
  And we have it with pet guardians too.
• 37:26
  So there's always a backup for each key person.
• 37:29
  So you'd be like, you're not my A pick.
• 37:31
  You're my B.
• 37:32
  Yeah.
• 37:33
  It's like the understudy.
• 37:34
  Yeah.
• 37:35
  So if you said no, so we won't.
• 37:37
  Yeah.
• 37:38
  We're even have options for like temporary guardians for pets because, sorry, for kids, because some people, I guess, being from overseas myself,
• 37:47
  Mark needs someone to be a temporary guardian until the guardian can actually arrive to look after the child.
• 37:53
  It's like that Catherine Hygel movie.
• 37:57
  Oh my god.
• 37:58
  She was in my dream last night.
• 37:59
  That is so weird.
• 38:00
  I was in a relationship with her in my dream last night.
• 38:02
  Yeah.
• 38:03
  Pissar.
• 38:04
  But her and her, her and her friend get left.
• 38:06
  Look at that.
• 38:07
  It's so weird.
• 38:08
  I only just remembered that now.
• 38:09
  We were sharing a single bed.
• 38:10
  It was quite bizarre.
• 38:11
  Sorry.
• 38:12
  I can't do you.
• 38:13
  But her and what's his name, the other guy, they get their friends, their mutual friends, pass away.
• 38:20
  And they leave the things to us, their kids to them, but they haven't told them.
• 38:23
  And they're like, what?
• 38:25
  They're like us.
• 38:26
  I get it.
• 38:27
  That's what I was just going through me here.
• 38:28
  I was like, imagine if you're like, here's three children.
• 38:30
  And yeah.
• 38:31
  Any.
• 38:32
  Are there any other key things that people need to remember?
• 38:35
  Or like mistakes that people commonly make or misconceptions that we could kind of just like cover off before we wrap up?
• 38:42
  Anything that we haven't mentioned or asked about?
• 38:45
  I think for me, if I had to say top three would be making sure that you're putting a backup executor.
• 38:53
  If your executor passes away before you, again, you, as if you've passed away without a will,
• 38:58
  making sure that you've signed and witnessed it correctly.
• 39:02
  And then the storing it, making sure you stored it somewhere really safe.
• 39:06
  But tell people about where it's stored, because they need the original to go to probate.
• 39:11
  This is such a weird conversation, isn't it?
• 39:13
  It's so weird to think about.
• 39:15
  Imagine having to, I mean, I know we're going to all have to do this after this episode, obviously.
• 39:20
  But how strange to go and, for me, I'm just even thinking what stuff I have and who I would want to have it.
• 39:27
  Do you even know, like, what, where you would send assets or how?
• 39:31
  I think, how would you give it to it?
• 39:32
  I'd just be lazy and like give it to one person to then give it up.
• 39:35
  Would you?
• 39:36
  But isn't that kind of leaving it up to like potential family dramas?
• 39:40
  I know, yes.
• 39:41
  Would your house go to your sister or to your parents?
• 39:44
  I do not depend who's alive when I'm passing away.
• 39:47
  Right now, if you had to give your stuff, do you have any idea of how you would divvy it up?
• 39:52
  No.
• 39:53
  Maybe it's this weekend's job.
• 39:55
  What about me, so?
• 39:56
  Me, so would get the house.
• 39:58
  Oh, my God.
• 39:59
  This is the dog.
• 40:00
  So obviously, Vex and all thought about her will very hard at all.
• 40:04
  I think we'll be circling back to it.
• 40:06
  I think it's more the business.
• 40:08
  What do you mean? Surely I get it.
• 40:11
  No, but if you make a plan.
• 40:15
  Yeah, if you passed away, who does your part of the business go to?
• 40:19
  Like, I don't want to be doing this with your dad.
• 40:21
  You know, it would be to you.
• 40:23
  Sure, I'll just give it to you.
• 40:25
  Vice versa.
• 40:26
  My call, right?
• 40:27
  Both of us close down the chair.
• 40:29
  He would love it.
• 40:31
  Yeah, I know.
• 40:32
  That's why it's concerning.
• 40:33
  I won't do that to you anyway.
• 40:35
  Oh, gosh, what a fascinating conversation.
• 40:37
  Thank you so much, Bill and I.
• 40:39
  Cannot believe we haven't had this sooner, honestly.
• 40:41
  And I'm really excited for this weekend.
• 40:44
  We're going to sit down and do a well.
• 40:46
  We need to circle back to where we got to.
• 40:48
  I reckon we should share what we do with our will.
• 40:50
  Who we give it to.
• 40:51
  Yeah.
• 40:52
  That's actually so interesting.
• 40:53
  We'll do a follow-up.
• 40:54
  Quite fun to go a bit rogue.
• 40:55
  Oh, God.
• 40:56
  Cheers.
• 40:57
  I don't know.
• 40:58
  That's the thing is actually make your will.
• 41:01
  Can I say something please?
• 41:02
  Make your will about your life.
• 41:04
  Like, we've had people that have put some really cool stuff in their will.
• 41:09
  And that's really cool.
• 41:10
  Can you give some examples?
• 41:11
  Like, especially under the funeral wishes.
• 41:13
  Because we've had someone say they want us.
• 41:16
  It wants a actor to be hired to play the grim reaper at their funeral.
• 41:21
  Oh, my gosh.
• 41:22
  And we've had someone say they want a bottle of bourbon to be at the burial site.
• 41:28
  And everyone has to take a look.
• 41:30
  Everyone has a tequila shot at my wedding.
• 41:32
  Yeah, definitely.
• 41:33
  Wedding off you.
• 41:34
  Sorry.
• 41:35
  Oh, my gosh.
• 41:36
  Both.
• 41:37
  Oh, my gosh.
• 41:38
  Wow.
• 41:39
  Everyone has a tequila shot at my funeral.
• 41:40
  How fun.
• 41:41
  Yeah.
• 41:42
  Okay.
• 41:43
  Or the prohibitive.
• 41:44
  I'll be born.
• 41:45
  Yeah.
• 41:46
  I'd be so mad at you if you made me do it.
• 41:48
  No, it wouldn't.
• 41:49
  I'd be like, love you, bye.
• 41:50
  Yeah.
• 41:51
  Okay.
• 41:52
  I think we should definitely do this.
• 41:54
  Also, how funny would it be to call people?
• 41:56
  And they're like, can you be ill?
• 41:57
  Execute it.
• 41:58
  Execute it.
• 41:59
  Not my first one.
• 42:00
  You're my second choice.
• 42:01
  The option.
• 42:02
  Well, under this has been such a good chat.
• 42:05
  Like so much better than I was expecting.
• 42:07
  Not that I was expecting it to be shit, but I just didn't know what to expect.
• 42:10
  Who thought death could be so fun and fascinating.
• 42:13
  Yeah.
• 42:14
  Thank you.
• 42:15
  Thank you for sharing all of your knowledge in terms of if people do want to go and make
• 42:18
  a will.
• 42:19
  What are their various options?
• 42:20
  Do you just Google where do I, you know, do you know?
• 42:22
  I mean, I'm assuming footprint, but are there lots of different options?
• 42:26
  There are.
• 42:27
  There's a variety of options.
• 42:30
  You can do it online as I say through footprint.
• 42:32
  There's other world providers that do the same type of thing.
• 42:35
  You can go to a trustee company.
• 42:38
  They do it.
• 42:39
  You can go to lawyers using websites like sorted in those types of places.
• 42:44
  They promote things like this too.
• 42:47
  So it's all about researching it and just having a look at what's convenient to you.
• 42:53
  What's easy for you and what works for you.
• 42:57
  Great.
• 42:58
  And you're never too young.
• 43:00
  Never too young.
• 43:01
  Yeah.
• 43:02
  I'm going to have to do a will.
• 43:03
  I've got so many things in my to do list.
• 43:05
  It's a bit stressful really.
• 43:07
  So much admin when it comes to just being an adult, isn't it?
• 43:11
  Yeah.
• 43:12
  But yeah, we really appreciate your time.
• 43:14
  Thank you for putting your Friday night aside to hang out with us.
• 43:16
  We really appreciate that.
• 43:17
  I'll go have a wine.
• 43:19
  Thank you so much.
• 43:20
  Yeah, enjoy your wine.
• 43:21
  Chanty, so we'll let you know if we have any weird disputes
• 43:24
  while putting our wills together.
• 43:25
  Thank you so much for listening to Raising the Curve.
• 43:35
  These conversations are designed to teach you everything that you need to know
• 43:38
  to be better with your money.
• 43:39
  From saving, to investing, to talking to your friends about your salaries.
• 43:43
  And if you liked what you heard, we would love it.
• 43:46
  If you could hit the subscribe button, please.
• 43:48
  Yes, please.
• 43:49
  Or leave a review.
• 43:50
  It'll only take five seconds and it would really make our week.
• 43:53
  Oh yeah.
• 43:54
  Our month.
• 43:55
  Okay.
• 43:56
  Lots of love. See you soon.
• 43:57
  Bye.