Wills & Estates Practice Area: Power of Attorney
The Wills & Estates practice area in New Zealand focuses on helping people manage their assets and make important decisions about their future. One key part of this area is the Power of Attorney.
What is a Power of Attorney?
A Power of Attorney is a legal document that allows someone to make decisions on your behalf if you are unable to do so yourself. This could be due to illness, injury, or simply being away from home. For example, if you are in hospital and need someone to pay your bills or manage your bank account, you can give a trusted friend or family member a Power of Attorney.
Types of Power of Attorney
In New Zealand, there are two main types of Power of Attorney:
- General Power of Attorney: This allows someone to handle your financial matters, like paying bills or selling property, for a specific period or task.
- Enduring Power of Attorney: This continues even if you become mentally incapable. It can cover both financial and personal care decisions, such as where you live or what medical treatment you receive.
Why is it Important?
Having a Power of Attorney is important because it ensures that your wishes are respected, even if you cannot express them yourself. It also helps avoid confusion and disputes among family members during difficult times.
How to Set Up a Power of Attorney
To set up a Power of Attorney in New Zealand, you should:
- Choose a trusted person to act on your behalf.
- Decide what powers you want to give them.
- Complete the necessary legal forms, which can be done with the help of a lawyer.
- Sign the document in front of a witness, who must be an adult and not related to you.
Getting Legal Help
If you are considering a Power of Attorney, it is wise to seek legal advice. A lawyer can help you understand your options and ensure that the document is set up correctly. This way, you can have peace of mind knowing that your affairs will be managed according to your wishes.
In summary, the Wills & Estates practice area, particularly the Power of Attorney specialisation, is about planning for the future and ensuring that your needs are met, even when you cannot speak for yourself. It is a vital part of protecting your interests and ensuring your loved ones know your wishes.