09 Jun Enduring Powers of Attorney and Wills as shared by our Auckland law firm team
Enduring Powers of Attorney and Wills
How long does a Will last?
Your Will survives last until you die unless you specifically revoke it (cancel it) by the making of a new Will. A Will continues even after a divorce. So unless you want your former spouse to inherit from your estate then you should make a new Will.
What is an Enduring Powers of Attorney?
An Enduring Powers of Attorney is a simple way of ensuring that if for any reason you become incapacitated, or are unable to manage your affairs, the person you have appointed as your attorney can attend to these matters for you.
They are powerful documents however in that they continue to have effect in the event of you becoming incapacitated mentally, so you should exercise care in your appointment.
Are there different types of Enduring Powers of Attorney?
There are two types of attorney, Property (in which two people can act as an attorney) and Personal Care and Welfare (in which you can only have one attorney). The Welfare attorney only comes into effect when you become mentally incapacitated, whereas the Property attorney can have effect immediately if you wish.
Who Needs To Make Enduring Powers of Attorney?
Everyone should have an Enduring Powers of Attorney (EPAs). In particular, people diagnosed with the early onset of dementia, Alzheimer’s disease or other conditions which will cause mental competence to deteriorate. In addiiton, those going into hospital for major surgery, travelling overseas or in any situation of risk should seriously consider completing EPAs.
When Does An EPA Cease To Have Effect?
- On the donor’s death;
- If revoked by a competent donor;
- When an attorney gives notice to the donor while the donor is still mentally competent or after loss of competence to the Family Court advising that the attorney is no longer willing to act;
- Where more than one Property Attorney is appointed to act jointly and one of them dies, ceases to act or becomes incapable of acting;
- When the attorney dies, becomes bankrupt or mentally incapable;
- When the Family Court intervenes and exercises its powers under the PPPR Act to revoke an attorney’s appointment or to appoint someone else as Court appointed
Do I require Independent legal advice when signing an Enduring Powers of Attorney?
Under the changes to the Act, there are new requirements in relation to certification, independent legal advice and a new prescribed form.
The witnessing requirements for all new EPAs for both property and personal care and welfare are strengthened so that the donor’s signature must be witnessed by a lawyer or authorised officer of a trustee corporation or legal executive engaged independently of the attorney. The signature of an attorney must be witnessed by a person other than the donor or the donor’s witness. Our Auckland lawyers are able to guide you in respect to the requirement of the law.
To discuss your Enduring Power of Attorney contact Auckland lawyer Ian Mellett. Ian Mellett BComm LLB H Dip Tax is a Barrister and Solicitor at Auckland Law firm, Quay Law. Quay Law provides services in Wills and Estate administration, Estate Planning, Trusts and Asset Protection, Relationship Property, as well as Conveyancing, Commercial, Immigration and other areas of law.
Ph (09) – 523 0478. We are located in a convient suburban location with free street parking. Remuera Lawyers.