Will and Estate Planning 

Do you have a Will?

Having an up-to-date Will is an important part of planning for the future. It is a legal document that specifies who will inherit your assets or estate after you pass away. It is important to ensure that your Will accurately reflects your current situation, as your financial and personal circumstances may have changed since you last updated it. If you do not have a Will, there are a few options available to you. You can have one created by a trustee corporation or lawyer, or you can use a write-your-own-Will toolkit from an online service or book retailer. However, if you choose to write it yourself, it is recommended to have a lawyer review it to ensure it is done properly.

For more information about Wills and the estate planning process, please visit the Sorted website. How to make a will » Sorted

Estate planning – enduring power of attorney

An enduring power of attorney (EPA) is a legal document that gives someone you trust (referred to as your “attorney”) the power to make decisions on your behalf if you lose the ability to make decisions yourself.

There are two types of EPA:

•            EPA for Personal Care and Welfare – this gives someone the authority to make important choices about your health and wellbeing, like picking a care facility or deciding on medical treatment. However, it only applies when a doctor or court determines that you are unable to make these decisions yourself.

•            EPA for Property – this gives a trustee corporation or one or more individuals the power to make decisions regarding your financial and physical assets. You have the choice to make this take effect right away or only when you cannot make decisions for yourself anymore. Your attorney(s) must follow any rules in the document. The Citizens Advice Bureau provides advice on what to consider when giving someone power of attorney. You can set up an enduring power of attorney through your lawyer or trustee corporation. Read more here: The court & enduring power of attorney (EPA) | New Zealand Ministry of Justice