PLANNING AHEAD: REDUCING FINANCIAL STRESS FORYOUR FAMILY

Planning for the end of life isn’t easy—but it can make a significant difference for your family when they need it most. Alongside grief, loved ones are often faced with urgent financial and legal decisions. Taking steps now can ease that burden and provide clarity.

WHY FINANCIAL PREPARATION MATTERS

Having clear plans in place can:
• Reduce confusion and potential family conflict
• Ensure your wishes are followed
• Ease immediate and ongoing financial pressure
• Allow your family time and space to grieve

KEY FINANCIAL STEPS TO TAKE

·  Write or update your will
Ensures your assets are distributed according to your wishes.

·  Set up Enduring Powers of Attorney (EPA)
Appoint someone you trust to manage financial matters if you cannot.

·  Organise important documents
Keep insurance policies, bank details, KiwiSaver information, and passwords in one accessible place. Make sure a trusted person knows where to find them.

PLANNING FOR FUNERAL COSTS
Funerals in New Zealand can cost several thousand dollars. Consider:
• Pre-paid funeral plans • Funeral insurance (check value carefully) • Setting aside dedicated savings

FINANCIAL SUPPORT AVAILABLE

Families may be eligible for:
• Funeral grants and emergency assistance (Work and Income)

https://www.workandincome.govt.nz/products/a-z-benefits/funeral-grant.html

• Support if the death was accidental, including help for dependents (ACC)

https://www.acc.co.nz/im-injured/financial-support/financial-support-after-death

• KiwiSaver balances and life insurance payouts to beneficiaries

If a KiwiSaver member dies, their funds are released to their estate, and in cases of extreme hardship, families can access funds for funeral costs. Talk to the KiwiSaver Provider.

GET ADVICE AND SUPPORT

• Citizens Advice Bureau – legal and process guidance

It is recommended to seek advice from a lawyer or the Citizens Advice Bureau if you are unsure of the legal process regarding a deceased estate.

https://www.cab.org.nz/location/cab-north-canterbury

·  Community Support

https://www.nextsteps.org.nz/          https://thefifthseason.co.nz/                https://www.myacp.org.nz/

https://www.nzseniors.co.nz/funeral-insurance/discover/financial-planning-after-partner-loss

START THE CONVERSATION

Talking about your wishes—including finances—can prevent uncertainty later. Even one small step today can make a big difference for your family tomorrow.

You don’t have to do everything at once—just make a start.

Our Financial Mentors will help you navigate this journey. They have extensive knowledge and experience in supporting families who have no idea of “finances” as their loved one had “taken care of it all”. Call us today. Our service is free and confidential.

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