Your Wills and EPA’s
You may need to review your Will or Enduring Powers of Attorney – John Troon
Many of us would and should have a current Will
and Enduring Powers of Attorney and it is recommended to review the status of
these documents to ensure that they continue to fit accommodate changes in
Whilst the terms of a Will can be reasonably
enduring, particularly in a typical marriage or civil union partnership where
spouses leave everything they own to each other in the first instance, it will
provision for children to inherit if they predecease them.
Of equal importance to the maintenance of
effective Wills and Enduring Powers of Attorney is the continuing currency and
qualification of those you have appointed as executors of your Will and
trustees of your estate and whom you have appointed as your attorney. Issues
may arise if those appointees have predeceased you; if they have ceased to be
your spouse or civil union or de facto partner or if they are no longer are mentally
capable or competent to hold those offices or are no longer living in the
jurisdiction of the New Zealand Courts.
Accordingly, we recommend that you review your
Will and/or enduring Powers of Attorney from time to time to ensure that when
the time arrives for their employment that they contain no element of
redundancy either through changing personal circumstances or change in the law.