Succession planning for your digital assets

Many New Zealanders now have assets, family members, or business interests overseas making estate planning and succession planning increasingly complex. You may own a holiday home in Australia, have investments in the United States, be entitled to an inheritance from the United Kingdom, or have children living in different countries. While these international connections are increasingly common, they can create complications when someone dies. The good news is that most issues can be managed with early advice and co-ordination across countries and legal advisors. Addressing these matters in advance is usually far less costly than dealing with the legal consequences after death. What is cross-jurisdictional estate planning? Cross-jurisdictional estate planning involves creating an estate plan and Will structure that works across more than one country. This may include: Overseas property and investment portfolios; Australian, UK, US, and other foreign assets; International families and beneficiaries; Foreign trusts or business structures; Relocation to or from New Zealand; Succession planning for internationally held wealth. Every country has its own laws governing Wills, estates, taxes, trusts, and property ownership. A Will that works perfectly in New Zealand may create unexpected difficulties overseas. What can go wrong? Common problems include: Delays in administering overseas assets; Conflicting Wills in different countries; A Will valid in one country is not recognised in another; Additional legal costs; Difficulties obtaining probate or resealing a grant in other (multiple) jurisdictions; Assets passing in a way that was never intended; Family disputes caused by unclear arrangements. In some cases, a person may have a valid New Zealand Will, but their overseas assets cannot be dealt with efficiently because local legal requirements have not been considered. Can one Will cover assets in multiple countries? Sometimes. For some people, a single carefully drafted Will is sufficient. For others, separate Wills for different jurisdictions may be appropriate. The answer depends on factors such as: The countries involved; The type and value of the assets; Whether trusts or companies are involved; Family circumstances; The likelihood of future relocation. The key issue is ensuring the documents work together. Multiple Wills that are not properly co-ordinated can create more problems than they solve. When should you review your estate plan? One of the most common mistakes is waiting until after a move overseas to review an estate plan. A relocation can affect existing Wills, trust structures, powers of attorney, and succession arrangements. Reviewing these matters before moving can avoid significant cost and complexity later. Coordinating legal advice across jurisdictions Cross-border estates often require input from advisers in more than one country. The objective is not to create more documents, but to ensure all aspects of the estate plan operate together efficiently. With the right planning, overseas assets can usually be administered more smoothly, costs can often be reduced, and families can avoid unnecessary stress at an already difficult time. If you own overseas assets, have family living abroad, or expect an overseas inheritance, it is worth reviewing your estate planning arrangements to ensure your Will and estate administration plans remain effective across jurisdictions.

A Will is perhaps the most important document you can leave behind to support your loved ones. Why do you need a Will, what happens if you pass without a Will, and how best should you prepare your Will for your circumstances? September is Wills Month. Holland Beckett offers a free Simple Will, or a 20% discount on a Complex Will, if you leave a gift to charity in your Will in September. Download our Wills Month information pack. Speak to the Holland Beckett Succession and Estates team about Wills Month and what charity giving options would best suit you. Contact the team on estates@hobec.co.nz or call our offices on 07 578 2199. Get started with our online Will Questionnaire.

Online Will platforms and artificial intelligence (“AI”) tools now promise fast, low‑cost solutions that can generate a Will in minutes. At first glance, the attraction is obvious. These tools are easy to access, relatively inexpensive, and avoid what many people see as the hassle of engaging a lawyer. Everyone thinks it is “very simple”. For some, that feels like progress. A Will is not a consumer product. It is a legal document that only has one chance to work correctly. The intentions and hopes of the person who drafted it can only be distilled from that document. When you look at online and AI‑generated Wills through that lens, the risks become harder to ignore. Are AI and online Wills legally valid in New Zealand? For a Will to be valid in New Zealand, strict legal requirements must be met. It must be in writing, signed by the Will‑maker, and witnessed by two independent witnesses who are present at the same time. Online platforms can produce a document - but they cannot ensure it is executed correctly. They do not supervise signing, check who the witnesses are, or confirm that signing is completed in accordance with the law of the country in which the Will is being signed. They also cannot ensure that it is stored correctly, is not lost or altered or marked in any way. If those steps are not followed properly, the Will may be invalid. That often is not discovered until after a person has died, when it is too late to fix. In some cases, the estate ends up being distributed under the intestacy rules instead, which may produce outcomes very different from what the deceased intended. Common risks of AI-generated Wills Most online Will platforms and AI tools rely on fixed templates and limited questionnaires. That creates immediate issues: They assume family arrangements are straightforward. They do not probe for nuance. They rely on users knowing what information is legally important. In New Zealand, estates are often anything but simple. Blended families, de facto relationships, trusts, overseas assets, and relationship property claims are common. AI cannot identify issues that have not been disclosed - and many people simply do not know what they should be disclosing in the first place. The result is rarely just a “basic” Will. More often, it is a Will that does not match the real needs of the client. Drafting errors and ambiguity AI‑generated documents often look polished. That does not mean they are legally sound. Common issues include unclear wording, inconsistent clauses, incorrect use of legal terms, and failure to account for future events. In a Will, even small ambiguities can cause big problems: competing interpretations, disputes between beneficiaries, delays, and higher administration costs. AI does not understand the legal effect of what it is generating. It is reliant on a prompt which in itself may be incorrect or misleading. Jurisdiction matters — and AI often gets it wrong AI tools are not inherently New  Zealand‑specific. We are already seeing Wills that use the wrong language, apply foreign law, or fail to deal properly with trusts and relationship property under New  Zealand law. For clients with offshore assets or international connections, those risks increase significantly. Why estate planning is more than drafting a Will Good estate planning is about far more than drafting words on a page. Effective estate planning services identify risks, protect assets and help ensure wishes are carried out as intended. That includes assessing the likelihood of Family Protection Act claims, relationship property disputes, or challenges from disappointed beneficiaries. It also means considering how assets are structured, whether existing trust and Will arrangements still work as intended, and how the plan will hold up if circumstances change. AI cannot do this. It does not give advice, challenge assumptions, or warn you when something may unravel later. A solid estate plan can culminate in very straightforward and simple drafting. The best estate plans often work out this way, but after comprehensive review and discussion about the circumstances for that client and their wider family. No accountability if a Will fails When a lawyer prepares a Will, there is professional accountability. Advice is documented, and indemnity insurance sits behind the work. Many online and AI platforms are unregulated. Their terms of use often exclude liability altogether. If the Will fails, there is usually no recourse. Further, there is a risk in terms of undue influence, or capacity issues. This may arise where family members assist with the drafting of a Will. AI cannot confirm if the Will-maker is mentally capable or is signing free of coercion. Having not had independence and proper process followed by a legal advisor, even a Will which appears to be valid on its face can be challenged. The emotional and financial cost falls on those left behind. The false economy Online Wills reduce upfront cost, but saving money at the start can be misleading. Errors and ambiguity increase the risk of disputes and the cost of administering an estate. Privacy and data concerns Preparing a Will requires disclosing deeply personal information: assets, family relationships, health issues, even questions of capacity. Using AI platforms often means uploading that information to third‑party systems. There is a real risk of data being stored, shared, or mishandled in ways the user does not fully understand - a particular concern in an area of law built on confidentiality. Where AI does add value Used properly, AI can be helpful in estate planning. We are seeing clients who are more educated and come to us with some information or thoughts regarding their estate planning. Alongside legal judgment and tailored advice (as well as accountability), clients can be reassured that they have a plan and documents in place which will endure and give best effect to their intentions. Technology can support the process - but it should not replace professional oversight. For most people, particularly where there is any complexity at all, the prudent approach remains the same: use technology thoughtfully, but ensure your Will is properly drafted, reviewed, and executed with lawyer experienced in wills and estates.