Enduring Power of Attorney Lawyers in Auckland
Introduction
An essential part of life planning is to establish an Enduring Power of Attorney (EPA). This can mean that your wishes are respected and your interests protected in the event that you lose the capacity to make decisions for yourself. Sadly, few people take this step which can cause huge expense later. Enduring power of attorney lawyers in Auckland can help people avoid these issues. Below we look at what is an EPA, and how it can benefit Aucklanders.
What Is an Enduring Power of Attorney?
An Enduring Power of Attorney is a legal document whereby you can appoint people (attorneys) to make decisions on your behalf. In New Zealand there are two types of EPA. The first covers health, personal care and welfare. The second relates to property, assets, and finances.
The personal care and welfare EPA means that your attorney can make decisions about your health, care, and living arrangements. For example, giving permission for you to have an operation. The property EPA is where your attorney can make decisions about your finances such as spending or stopping money, selling or managing assets, and property. An EPA is valid if you lose mental capacity but ceases upon your death.
The Importance of Legal Advice
Hiring a specialist enduring power of attorney lawyers in Auckland is a smart decision for a few reasons.
Firstly, for an EPA to be valid, there are specific and precise legal requirements to establish the document and process. The lawyer will explain the implications of the document so that you fully understand the powers you are granting and the risks involved. Your lawyers will attempt to determine that anyone you appoint as your attorney is trustworthy and capable of acting in your best interests.
Secondly, EPA lawyers customise the document to address your personal situation. This can be specific instructions the attorney must follow, any limitations on their decision-making, and determine how and when the EPA comes into effect Sometimes it might be better to have more than one attorney, for example the welfare EPA, when a single family member does not want to make a decision alone but in consultation with other people. Having a degree of personalisation means that you can safeguard your future and minimise the risk of disputes.
Choosing the Right EPA Lawyer in Auckland
There are plenty of EPA lawyers in Auckland. However, an EPA is part of a broader topic within estate planning. So, look for a law firm with lawyers skilled in all aspects of estate planning. These other areas include elder law, estate planning, wills, trusts, administration of family trusts as well as enduring powers of attorney.
Many law firms offer an initial consultation to explain an EPA, determine your needs, and answer any questions you may have. Among the questions to ask are about their fee structure.
The EPA Process: Step by Step
Below are the five steps to establishing a valid EPA.
- Initial Consultation where you meet your lawyer. Here they will discuss your wishes, concerns, and explain the different types of EPA.
- Drafting the EPA when the lawyer prepares the actual document, making sure that all legal requirements are met and op-to-date.
- Certification during which the lawyer certifies that you understand the document, its implications, and that you are not being unduly influenced by a family member or friend.
- Signing the EPA in the presence of your lawyer and, if necessary, witnesses.
- Storage and notification are small but key parts where the lawyer can store your EPA safely and also provide copies to any relevant parties such as your bank.
Why Early Action Matters
Many people only think about an EPA when it is too late, i.e. after you become incapacitated. Create an EPA while you are still in good health and are able to fully understand what you are doing, enabling, and preventing. People can suddenly lose their mental or physical capacity such as in a major car accident. If there is no EPA, your loved ones will face lengthy and expensive court processes to get decisions made on your behalf. Even simple things like stopping a bank payment for a service that you no longer need. The $20pm fee could cost hundreds to enact via a court. Hiring an enduring power of attorney lawyer in Auckland, will give you peace of mind whilst also protecting your future interests.
Conclusion
Enduring power of attorney lawyers in Auckland provide expertise for people looking to make life easier in case they lose decision-making capacity. This can secure their personal and financial wellbeing. This means that your wishes are clearly documented and legally enforceable, which can save lots of time, stress, and unnecessary expense.
If you would like some advice on establishing an EPA, McVeagh Fleming in the Auckland CBD, has lawyers who can help.