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 personal circumstances.

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.