Estate Planning Before You Travel: Why It's Critically Important
Vacations are a wonderful opportunity to relax, disconnect from work and responsibilities, and enjoy quality time with your spouse, partner, kids, or friends. However, before you head off on your next getaway, there’s an important task you should consider that might not seem as fun—creating an estate plan. While it may not be the most exciting way to spend your time, here are some compelling reasons why you need to think about your estate plans before you travel.
Ensure Medical Decisions Align with Your Wishes
An estate plan ensures that any necessary medical decisions made while you are away from home will be handled according to your wishes and with as much ease as possible, regardless of local regulations. If you fall ill or become injured and can’t make medical decisions for yourself, your estate plan will ensure that these decisions will be made by the person you choose, with your indicated desires for your care at the forefront.
Prevent Hassles for Family and Friends
Without an estate plan, your family or friends might face significant challenges getting you back home, locating your assets, keeping your bills paid, and ensuring your children are taken care of by the right people in the right way. An estate plan alleviates these burdens, making it easier for your loved ones to manage your affairs in your absence.
Proper Handling of Debts and Liabilities
An estate plan ensures that any debts or liabilities are taken care of properly if something happens while you are on vacation. This can help prevent creditors from trying to collect from surviving family members, which is something no one wants to deal with during a difficult time.
Married Couples Also Need an Estate Plan
You might think that being married means you don’t need an estate plan, or that your will is sufficient. However, this is generally not the case. Even if you are married, you still need medical powers of attorney to make it clear that you want your spouse making medical decisions for you, or potentially adding additional decision-makers. You also need a living will to provide clarity on how you want medical decisions made for you.
For those with dependent children, it's crucial to ensure you’ve made it as easy as possible for their care needs to be continued by the people you want, in the way you want. Without a plan, decisions about their care could be delayed for months, including access to the financial assets their caregivers would need to provide for them.
The Benefits of Working with an Attorney
While you can create an estate plan without legal assistance, there are significant risks if your plan is incomplete, outdated, or improperly executed. To ensure your loved ones have as much ease as possible, consider working with an experienced attorney specializing in estate planning. They understand what needs to go into a thorough and complete estate plan and can help you navigate potential pitfalls or issues that might arise due to your unique personal and family dynamics.
An attorney can also advise you on important documents such as wills, trusts, powers of attorney (POA), health care directives (HCD), and guardianship paperwork for minor children. These items should all be considered when creating an effective estate plan, especially if you or your spouse will be traveling outside your home country.
Don't Let a Lack of Planning Dampen Your Vacation Spirits!
Taking a few simple yet critically important steps now can save you and your family considerable headaches in the future if anything were to happen while you’re on the road. Not only do we want you to enjoy each moment spent together, but we also want you to have peace of mind knowing that whatever comes your way is handled according to your wishes.
Ensure all your affairs are in order before you pack for your next adventure. Making sure everything is taken care of will allow you to fully enjoy your time together. Contact an estate planning attorney today to get started.
This article is a service of Zarda Law, S.C. We do not just draft documents; we ensure you make informed decisions about life and death, for yourself and the people you love. That's why we offer Legacy Planning Session, during which you will get financially organized and make all the best choices for the people you love. You can begin by scheduling a Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.
