We consider two-dimensional Pauli and Dirac operators with a polynomially vanishing magnetic field. The main results of the paper provide resolvent expansions of these operators in the vicinity of their thresholds. It is proved that the nature of these expansions is fully determined by the flux of the magnetic field. The most important novelty of the proof is a comparison between the spatial asymptotics of the zero modes obtained in two different manners. The result of this matching allows to compute explicitly all the singular terms in the associated resolvent expansions. As an application we show how the magnetic field influences the time decay of the associated wave-functions quantifying thereby the paramagnetic and diamagnetic effects of the spin.
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