Dementia in New Zealand
Two out of every three New Zealanders know or have known someone with dementia. It is estimated that there are 53,000 people with dementia in New Zealand, which is forecast to triple to around 150,000 by 2050. (Source: Alzheimer’s New Zealand)
Dementia has a significant impact on the people who suffer from it as well as their friends and family. Following Westpac’s lead, we want to help people with dementia and their families access services which help them plan for their future.
Enduring Powers of Attorney
Many people with dementia will eventually lose the ability to make decisions for themselves and will need to rely upon a family member, friend or trustee company.
An Enduring Power of Attorney (EPA) is a legal tool which gives another person the legal authority to make certain decisions for you, when you are no longer able to make them yourself. This person is called an ‘attorney’.
There are two types of EPA:
- Property: for managing your finances and assets. You can appoint a person or an organisation such as Perpetual Guardian as your attorney for property.
- Personal care and welfare: for managing your personal health and wellbeing. Only an individual – such as a trusted friend or relative – can act in this role, which involves looking after things like accommodation arrangements, medical decisions, and purchasing clothing or personal items.
If you don’t have an EPA and you lose capacity, your family will need to apply to the Court to be granted permission to manage your affairs. This can be an expensive and stressful process.
A Will lets you set out how you would like your assets and belongings to be distributed when you pass away. By clearly writing down your wishes, you can save your loved ones from a lot of uncertainty and heartache.
We are experts in preparing plain English Wills which give clear instructions for the distribution of your assets. An up-to-date, well-written Will avoids uncertainty, delay and cost for your loved ones.
Talk to us
If you have been diagnosed with dementia, it is important to start planning. Our team has been trained to recognise the signs of dementia and respond to their needs. We are experienced in helping people with dementia and their families fulfil their estate planning needs. Our team is also vigilant when it comes to spotting financial abuse, and we can put in place measures to protect against this.
Our aim is to provide a dementia-friendly environment in terms of branch layout. We are currently reviewing our branches to make sure they meet these requirements.
We offer discounted pricing on our services to those living with a dementia diagnosis.