Is it too late for New Years resolutions?

Henderson Reeves Auckland

Legal New Year’s Resolutions
The best kind of New Year’s resolution is one that is easy enough to keep and makes you feel a whole lot better. We may have made muttered promises to ourselves about more walks, and less wine, but here are five legal resolutions that will leave you feeling right on top of things and ready for your year:
1. Make a will (or take a look at your old one to see if it needs refreshing).
Everybody whether married, single, a parent or a grandparent needs a will. It saves your family having to go to Court to get Letters of Administration. A well thought out will allows you to plan what happens to your assets when you die, and to nominate someone to have a say in important decisions for your children. In addition to your will, do you need an enduring power of attorney so that a trusted person can step in and make important care or property decisions if you cannot do so yourself?
2. Get on top of debt
This year I am abolishing a budget in favour of a “Spending Plan” because it sounds much more fun. If things have gotten more serious than that, a lawyer can help you renegotiate debt, and your bank or mortgage broker could help you consolidate your debts to reduce the overall interest you are paying. A “disruptive accountant” or a budgeting advisor might be just the thing for taking control of your financial affairs.
3. Get some advice on that niggly legal issue
This may seem self-serving, but that combative neighbour on your right of way, that ongoing trust issue, or upcoming property purchase with your partner are underlying causes of stress. Sometimes all you need is 20 minutes legal advice to put you on the path to resolving them.
4. Make sure your insurance is doing what you think it is
For lots of reasons, insurance policies may not be protecting you properly – whether because you have more assets than you used to, other circumstances have changed, or you are just paying too much. So that you are protected when you need it, read your policy and get in touch with your insurer if anything is unclear. Ask them if they have a plain English description of cover and exclusions. Work out whether your house insurance will cover a rebuild if you needed one. Consider an insurance broker.
5. Book in a time for those walks and revel in all that peace of mind (I’m not saying anything about the wine).