An Enduring Power of Attorney (EPA) is probably one of the most important legal documents you will sign along with your will during your lifetime. Anyone over 40 with a fortune to speak of should have it. A permanent power of attorney is something that is possible under the Personal and Property Rights Protection Act 1988.
It is an important tool for wealth protection and wealth planning and can be compared in many ways to an insurance policy as it is one of those documents that you hope will collect dust somewhere and not be required. You can browse online for searching enduring powers of attorney consultancy in New Zealand or visit Trustees Executors for legal advice.
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EPA is available in two types. The first is that it is for personal care and well-being and you can only have one supporter at a time for that purpose it is clear that this kind of immortal power can never be used as long as you have mental abilities. The second EPA is the one for property purposes and you can have two or more attorneys if you prefer.
By property in this sense, we mean all tangible and personal assets that you own. The power of attorney can, if you wish, act as a general power of attorney so that the attorney of your choice can act according to your instructions at any time, or if you wish, it can be made in such a way that it only applies if the diagnosis is mental capacity loss. As noted earlier, a power of attorney can be the most valuable dust collector you'll ever sign. If you lose your mental capacity, your loved ones will be very grateful that you had the foresight to do so.