Articles

Our articles are an important source of information and commentary on matters that affect you.

rss

Latest News

Description of this module

EPA image  resized -5585249 (1).jpg

Enduring Powers of Attorney for Peace of Mind

Published in July 2024

People often overlook the importance of putting in place enduring powers of attorney (“EPAs”).

You will no doubt be aware how important it is to have a will in place to ensure your estate is managed according to your wishes when you die, but make sure you also consider the importance of putting in place enduring powers of attorney. 

There are two different types of EPAs, one for property and one for personal care and welfare and it is recommended that both are put in place.  By setting up EPAs, you can decide who will look after your property affairs and make decisions about your healthcare when you don’t have the ability to do so. 

Without EPAs, if you lose mental capacity, an application to the court is required for orders appointing someone to act on your behalf.  There are often delays, increased costs and legal complexities in obtaining such orders.   This can lead to disruptions in decisions about your healthcare and financial matters. 

EPAs are often a requirement by retirement villages when you make an application to enter into an occupation right agreement with the village, so having them in place already makes the transition easier.

An EPA for personal care and welfare can only be activated in respect of significant healthcare matters, if you are certified by a medical practitioner as no longer having the mental capacity to make your own decisions, in which case your attorney can assist with making decisions (that you can guide in advance with the appointed attorney under your EPA) as to medical interventions or moving into medical care facilities.   You can elect whether your property EPA comes into effect on signing or if you lose mental capacity.  Your property attorney(s) can assist with the payment of your invoices and operating your bank account on your behalf.  

EPAs can reduce the risk of family conflict as you can clearly set out the person or persons who are to take the lead in decision making and if they are to consult with and/or provide information to others.   You can specify the scope of the authority and impose conditions allowing you to maintain some control of your affairs.  This also gives family members and loved ones a clear sense of direction in what is usually a stressful situation. 

EPAs are an important tool for safeguarding your interests and providing peace of mind for you and your loved ones.   

Please contact us if you would like to find out more about how EPAs operate and whether you need to put these important documents in place today.



Comments are closed.

Need expert advice?

Get in touch for an initial telephone consultation.

Get in Touch

Epsom Office

Takapuna Office