An enduring power of attorney (EPA) is a legal document that allows you to appoint a third party to act on your behalf and manage your financial and legal affairs if you become incapacitated. This document is also referred to as a durable power of attorney. If you are looking for an enduring powers of attorney in NZ then, you may check Trustees Executors.
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Enduring powers of attorney are essential for protecting your assets and loved ones from any potential abuse or exploitation. This document provides peace of mind that someone you trust will manage your affairs if you are no longer able to do so.
The person you appoint to act for you is called an ‘attorney’. You can appoint one person or multiple people. However, it is essential that you pick a person you trust to act in your best interests.
When you are creating an EPA, you can choose to grant your attorney general or specific authority. General authority allows them to handle all your financial and legal matters. On the other hand, specific authority limits the attorney to specific tasks. It is important to decide what type of authority you want your attorney to have so that they can act on your behalf.
Finally, it is essential to keep your EPA up to date, as laws and regulations can change over time. Reviewing your document every few years can ensure that it is still valid and relevant.