With effect from 24 September 2025 the probate threshold will increase from $15,000 to $40,000. As noted by the Hon Paul Goldsmith:
“The threshold was last set in 2009 before the implementation of KiwiSaver. Most estates now include KiwiSaver balances well over $15,000, but still have to go through the High Court process. This results in a significant proportion of smaller estates being eaten up in court costs and legal fees.
Executors need to be able to distribute lower-value assets, ensuring more of an estate goes to the beneficiaries, helping grieving families. The last thing they need is a costly legal process with extra paperwork to deal with.
I’m assured $40,000 is still sufficiently low enough to ensure there are still appropriate safeguards through the oversight of the High Court for higher value assets, to ensure against potential dishonesty, fraud, or the deceased person’s wishes not being followed.“
Note that the threshold remains at $15,000 for the asset types described in sections 64 (loan stock) and 64A (shares or debentures).
At this time the $155,000 prescribed amount (the statutory legacy to a surviving spouse or de facto partner on an intestacy) is not being increased. As noted by the Ministry of Justice in Review of the probate threshold and statutory legacy threshold under the Administration Act 1969 (the Probate review) at [27]:
“The approach to the principled distribution of estates where there is no will, and policy considerations raised by the potentially competing interests of partners and children, should be part of a review of the law of succession.“
The Probate Review states at fn 7 that a “… review of the law of succession is not currently on the Ministry’s immediate work programme.”
References:
- Administration (Prescribed Amounts) Amendment Regulations 2025.
- Increasing probate threshold for families | Beehive.govt.nz
- Proactive-Release-Administration-Act-Amendment-Regulations
- Review of the probate threshold and statutory legacy threshold under the Administration Act 1969
- Administration Act 1969, ss 64,64A, 65 and 77
- https://www.lawcom.govt.nz/assets/Publications/GovtResponse/NZLC-Government-response-R145.pdf
Matters of Trust 
Discussion
No comments yet.