As of 24 September 2025, the amount under which an estate can be informally administered has increased. This means for certain financial assets under the value of $40,000, probate is no longer needed. Probate is an order from the High Court authorising the executors of an estate to administer the assets.
For many years the limit has been $15,000. This meant if an estate had a financial asset which was more than $15,000, the court order was needed. With the increase in savings such as KiwiSaver, more and more small estates were tipping over that threshold. The legal and court fees in such small estates cause concern to many families. The limit only applies to certain institutions such as banks and insurance providers, but these providers still have the discretion to require probate. The limit has remained at $15,000 for shares and debentures. Probate is still required for non-financial assets (such as real estate) that are owned separately from a spouse or partner.
The new limit of $40,000 is a welcome increase. Our estates team are very experienced in applying for probate when it is needed and assisting with administration of all estates. Get in touch for further information.
The information contained in this outline is of a general nature, should only be used as a guide and does not amount to legal advice. It should not be used or relied upon as a substitute for detailed advice or as a basis for formulating decisions. Special considerations apply to individual fact situations. Before acting, clients should consult their Parry Field Lawyer.
