ARE YOU future-proof?
HAVE YOU PUT SORTING YOUR LEGAL AFFAIRS ON YOUR TO-DO LIST?
Much like dental checkups, making sure our legal a airs are in order is rarely top of the list of important tasks. While it can seem like a chore, making sure the right people have been nominated to act on your behalf if your health fails is a good idea as you get older. “It will give you a secure feeling that your a airs are sorted and also take a lot of stress about the future from your families,’’ says Ryman Healthcare’s Senior Registered Legal Executive, Pam Harliwich. Pam has been a registered legal executive for almost 30 years and has given thousands of New Zealanders advice on how to get their a airs in order. She says moving into a retirement village is often the perfect excuse to get on top of the paperwork. “A lot of families find themselves in a situation where Mum and Dad are getting older, and there are health clouds on the horizon. “It makes sense for them to know what’s required and have everything they need in place before it gets too late.’’ The good news is that it’s is not too hard and there is plenty of good advice around. Key requirements for most retirement operators are that residents moving in have a current will and enduring powers of attorney (EPOA), especially if they are requiring rest home or hospital care. “You actually need two enduring powers of attorney – one for property, and one for personal care and welfare,” explains Pam. While the same person can do both on your behalf, there are two separate documents that need to be completed. “The property EPOA covers financial and property matters, such as village agreements, real estate matters, shares, and bank accounts. “The personal care and welfare EPOA covers any medical or health-related decisions that need to be made if you become mentally incapable of making them.’’ If a person needs to be admitted into the rest home and is mentally incapable of making their own decisions, the EPOA will come into force. The person they have appointed will make the decision and sign all the documentation. Not having an EPOA in place will make what is already a stressful situation for families more dicult. “It could result in delays and extra cost if a person loses capacity and family members have to apply to the family court to appoint a property manager or personal welfare guardian,” Pam warns. An up-to-date will is also important, with executors who are able to fulfil their duties.
To find out more about living in a Ryman Retirement Village, visit rymanhealthcare.co.nz or call 0800 000 290.
‘It will give you a secure feeling that your affairs are sorted’