An Enduring Power of Attorney (EPA) allows you to appoint someone to act as your attorney in certain circumstances and endures beyond any loss of mental capacity. There are two sorts of EPAs under New Zealand law. One for Health (dealing with matters relating to your general care and welfare) and another for Property (dealing with your property affairs). In each case, it is essential that you give your EPA to a person you trust completely to uphold your financial or health interests.
Your EPA must be given before you have lost capacity to understand and appreciate your own property or health interests. It is possible for someone to apply to the court to be appointed as your property manager or welfare guardian if you lose capacity without granting an EPA. However, that process can take very long and involves significant costs. The court order will also need to be extended every 3 years.
We recommend that you make your EPAs while you enjoy good health rather than assume you will have early warning about losing capacity. For further advice and assistance in preparing your EPAs feel free to contact Kemp Barristers & Solicitors at info@kempsolicitors.co.nz or 412-6000.
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