Enduring powers of attorney

] with Bessie paterson llB ] Ronald W Angland & Son

The attorneys must be at least 20 years of age, have mental capacity and not be bankrupt. There are two types of Enduring Powers of Attorney.

The attorney under the care and welfare EPA must consult with the donor as far as possible, keep proper records of financial transactions entered into by the attorney, provide information to others where appropriate, generally oversee the donor’s care and welfare needs and have a certificate of the donor’s mental capacity where the EPA has been activated as a result of the donor’s losing capacity.

The care and welfare EPA only comes into effect when the donor has lost capacity and has been examined by a medical doctor con- firming that the donor has lost the capacity to make decisions for themselves.

The property power of attorney may come into effect when it has been signed by both the donor and the attorneys. It can also be limited to take effect only if the donor loses capacity to deal with property dealings and financial affairs.

A donor may appoint more than one attorney to act in respect to their property matters. It is important that a donor appoints attorneys who are reliable and competent to deal with the donor’s property.

Bothe EPAs cease on the death of the donor whose Will comes into effect on his/her death.

It is always a good time to review a Will or make a Will where no Will exists. Where there has been a change in circumstances since the existing Will was made a Will-merk must make a new Will. For example marriage revokes a Will unless the Will expressly states that it is made in contemplation of the marriage.

Where parties have separated they both need to make a new Will to remove the former partner from inheriting any benefit under their Will.

Over recent years there have been a number of statutory enactments which must be taken into account on making a Will which can be challenged if a Will does not provide for those who the Will-maker is required to consider and provide for.

These enactments reflect the obligations under the Property (Relationships) Act and other legislation reflecting the changes in modern society.

A Will provides for the appointment of executors and trustees who are the persons who are required to see that the Will-maker’s directions are put into effect. A trust company may also be appointed to be the executor and trustee.

The Will may provide for legacies which are monetary gifts, items of sentimental value, motor vehicles and any other possessions which the Will-maker values. The residue which is anything then remaining goes to the residuary beneficiaries names in the Will.

If a deceased person has not made a Will their estate will devolve in accordance with the intestacy provisions of the Administration Act which does not often reflect what the deceased would have wished, and it takes longer to administer an intestate estate.

This article has been prepared by Bessie paterson a partner at ronald W Angland & Son, lawyers, 2 Chapman Street, leeston.