Thinking about death is confronting and sometimes confusing. Writing a will can often be something to think about “tomorrow”. However, a current will is an investment in your surviving family or friends. Please telephone or e-mail for assistance if you would like to ensure that your assets will be distributed in accordance with your wishes in the event of your death.
- Any adult who has a child or owns property should have a carefully prepared Will, this can relieve financial strain on your family after your death and will ensure that your wishes are carried out.
- If you die without a properly made Will, your property will be distributed as required by the Administration Act – usually divided in set proportions amongst your family; and / or the Relationship Property legislation. This will likely be more expensive and may not reflect your wishes.
- Your will is automatically revoked if you marry or re-marry. Other changes in your life such as establishing a family trust, having children, end of relationship or a name change may also require revision of your Will.
- Entering into a Will can seem confronting and is something that many people find difficult to do.Please feel free to ask as many questions so that we can help you complete a valid will that is right for you and your circumstances.
Enduring Powers of Attorney
- Every adult should have Enduring Powers of Attorney (EPAs). An EPA is a legal document that lets you appoint a person to take care of your affairs. If you become incapacitated and there is no EPA, the only way decisions can be made about your property or personal welfare is by applying to the Family Court under the Protection of Personal and Property Rights Act. This is costly and there is no guarantee that the Court decision will be what you would have wanted.
- There are two types of EPAs; one in respect of Property (assets), and one in respect of Personal Care and Welfare. A Personal Care and Welfare EPA can only come into effect if you become mentally incapable. A Property EPA can be specified to come into effect only if you become mentally incapable or it can be effective immediately.
- Each EPA is drafted in accordance with your instructions and contains a range of optional provisions to ensure that you are comfortable with the amount of control you give your Attorneys.
For more information about EPAs please see http://www.superseniors.msd.govt.nz/finance-planning/enduring-power-of-attorney/new-epa-forms.html or contact us.