what are powers of attorney? |
An Enduring Power of Attorney appoints someone to take care of your affairs when you are no longer able to do so. It will allow your nominated attorney to care for your affairs as if they were you (within parameters that are imposed by law and by you). It operates when you are alive and are not able to deal with matters yourself. That could be because of illness or complete loss of the ability to deal with matters - “losing your marbles” you could say!
No one knows what the future holds. A sudden stroke, car accident or other unforeseen event may mean you cannot deal with matters, and appointing someone you completely trust to take control of your affairs in the future can make life a little easier for everyone involved, and save a lot of extra worry and cost.
There are two different types of Enduring Power of Attorney documents. One applies to your personal care and welfare, and the other applies to your property, which also includes bank accounts and all other assets. Different rules apply to each type of document. A property Power of Attorney is able to be appointed to allow your financial matters to be attended to if you are overseas, or too physically ill to deal with matters yourself.
However, if you die, the Power of Attorney is obsolete. Your Will is the important document when you have died – [Click this link for more information about a Will]
Please see attached further information from the New Zealand Law Society in relation to Powers of Attorney.
No one knows what the future holds. A sudden stroke, car accident or other unforeseen event may mean you cannot deal with matters, and appointing someone you completely trust to take control of your affairs in the future can make life a little easier for everyone involved, and save a lot of extra worry and cost.
There are two different types of Enduring Power of Attorney documents. One applies to your personal care and welfare, and the other applies to your property, which also includes bank accounts and all other assets. Different rules apply to each type of document. A property Power of Attorney is able to be appointed to allow your financial matters to be attended to if you are overseas, or too physically ill to deal with matters yourself.
However, if you die, the Power of Attorney is obsolete. Your Will is the important document when you have died – [Click this link for more information about a Will]
Please see attached further information from the New Zealand Law Society in relation to Powers of Attorney.
