Auckland Enduring Power of Attorney Lawyer – Why Choosing the Right One Matters
The only things certain in life are death and taxes. We have experts to manage those, on one form or another. The better we plan for them, the easier the administration is, especially for family members in troubled times.
One other thing that is likely to occur is something that few people do actually plan for. That is incapacity to make decisions. People often think that this is for elderly people, but many get injured in an accident for example.
In this situation, and many others, having decisions made on behalf of the person is both expensive and time-consuming. Even halting a payment from a bank account would cost thousands of dollars to go to court.
The solution is to see an Auckland enduring power of attorney lawyer to set up the documents to enable this, and other decisions to be made on the person’s behalf.
What is an Enduring Power of Attorney?
When you visit an Auckland enduring power of attorney lawyer, they will explain in detail what an the documentation allows.
Very simply, an Enduring Power of Attorney (EPA) comes in two forms. One if for health and welfare, the other covers finances.
With an EPS, you grant someone that you trust, the authority to make decisions for you. There are, or can be, limitations on their decision-making, but your lawyer will discuss that with you.
How Does an EPA Work?
It is easiest if we look at some examples.
If you have been badly injured and need an operation, the hospital will need someone to sign the authorisation to go ahead with the surgery. If you have a welfare EPA in place, the person you have granted that responsibility you, your attorney, can sign for you.
Taking that further, you may have to go into a care home after the operation. Again, the authorising person can agree on your behalf that you have to move from your current home.
In the meantime, you will not be needing your Internet connection, so with a financial EPA, your trusted person can contact your bank and halt or pause the monthly payment.
Another step from that, is if that move becomes permanent. Your financial EPA means that the person can sell your home, cancel insurances, and utilities, and more.
Without these two EPAs in place, your bank cannot make those decisions, nor can anyone give the bank authorisation to stop any payments. They would have to seek permission through the courts which takes time and is costly.
When Does AN EPA Become Effective?
The EPA will specify times or situations when it becomes effective. For example, when you are incapable of making a decision. While you are younger, this is most likely to be, but not exclusively, if you are involved in an accident.
However, as people age, and they lose mental capacity, your attorney can begin to make those decisions for you.
Seeing an Enduring Power of Attorney Lawyer
A properly structured EPA must comply with legal regulations which cover how the documents should be prepared, what powers can be granted, and required signatures. Given the potential for either abuse, or the enormity of the power granted, (literally life or death), it is essential that you seek legal advice from an experienced Enduring Power of Attorney lawyer in Auckland.
They can explain the issues, the possible risks for either setting up an EPS or for not doing so. And they will ensure that it is legally binding.
An EPA is part of the bigger legal field of estate planning. This includes wills, family trusts, administration of those, etc. This is why it makes sense to look for a larger law firm that has a number of experienced lawyers, rather than a solo operator.
One law firm to consider is McVeagh Fleming in the Auckland CBD. They have three offices around the region, and many lawyers in most aspects of law.