Vacations can be the perfect opportunity to relax, disconnect from work and responsibilities, and enjoy some free time. But before you head off on your next fun trip, you should consider doing that might not sound quite as fun creating an estate plan.
Why do you need to think about your estate plans before you travel?
An estate plan ensures any medical decisions needed while away from home will be handled according to your wishes and with as much ease as possible, no matter what the rules are where something happens. If you fall ill or become injured and can’t make medical decisions for yourself, your estate plan will ensure that decisions will be made by the person you choose and with your indicated desires for your care at the forefront. Do you want them being made by some doctor in a foreign country?
Without an estate plan in place for after you death, your family or friends could have a heavy lift to get you back home, locate your assets, keep your bills paid, and even ensure your children get taken care of by the right people in the right way.
Lastly, an estate plan ensures that any debts or liabilities are taken care of properly in case something happens while on vacation. This can help prevent creditors from trying to collect from surviving family members after the fact something no one wants to deal with during such a difficult time.
Yes, Even Married Couples Need an Estate Plan
You might think that because you are married, you don’t need an estate plan. Or you might even think your Will is enough and would just handle everything. But that’s generally not the case.
Even if you are married, you still need medical powers of attorney, making it clear that you want your spouse making medical decisions for you or even potentially adding in additional decision-makers. You still want a Living Will to give clarity on how you want medical decisions made for you. If you have property that is not jointly owned, for your spouse to get access to it, your spouse will still need a costly administration process in probate.
Finally, if you have dependent children, you want 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 in place, decisions around their care could be tied up for months, including access to the financial assets their caregivers would need to ensure they have what they need along the way.
Unmarried People Need an Estate Plan Even More
If you are not married then an estate plan is even more important. The intestacy laws do not give your significant other your assets even if you have been living together as husband and wife for 40 years. Furthermore for unmarried couples, the tax consequences are overwhelming if not properly plained.
The Benefits of Working With an Attorney
While you can create an estate plan without legal assistance, there are serious risks to the people you love, if your plan is not completed. not updated after it’s been done once, or not completed properly. The only real guarantee for the people you love to have as much ease as possible is if you work with an experienced attorney specializing in estate planning. particularly Life & Legacy Planning. As your attorney, we understand what needs to go into a thorough and complete estate plan as well as the potential pitfalls or issues that could arise due to your unique personal and family dynamics so you can rest assured knowing everything is being taken care of properly. before you embark on your trip.
Don’t Let a Lack of Planning Ruin your Vacation or your Return!
We can help put a plan together now so that you don’t forget about this important task before packing up for your next adventure. Making sure all your affairs are in order will ensure nothing stands in the way between you and enjoying time together and a peace of mind
when you retum home.
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