Everyone needs an EPA

There are two types of an Enduring Power of Attorney (“EPAs”): one for money and property (“property”), the other for personal care and welfare (“welfare”).

Everyone should have EPAs for both their property and their welfare. This needs to be done when people are still mentally capable. People tend to think only the elderly are likely to need someone to manage their affairs, but anyone can become mentally incapable at any age. An accident or illness may be the prompt for needing an EPA.

Your attorney can be the same person for both property and welfare, or different people.

Things a property attorney can do include managing bank accounts, paying bills, or buying and selling property on your behalf. A welfare attorney is needed to liaise with health professionals to make decisions regarding your care.

Without an EPA, no one else can deal with your property or financial affairs on your behalf without a Court Order. Nor can they provide directions regarding what care and rehabilitation services you will receive. Family and even a partner or spouse will need to go to Court to get this power. Not having an EPA and having to get a Court Order can cause your loved ones a lot of additional cost and stress.

EPAs for property and welfare can generally be completed in a week or two. Applications to the Family Court for property and welfare orders however require substantial evidence and consents from family members, often taking three to four months and costs your family a lot more.

Please contact us if you would like to discuss preparing EPAs. For more information you can contact:

Damian Smith: telephone 04 473 7129; email damians@mmiller.co.nz; or

Bernadette Ashdown: telephone 04 237 4506; email bernadettea@mmiller.co.nz