Vacations can be the perfect opportunity to
relax, disconnect from work and responsibilities, and enjoy your spouse,
partner, kids’ or friend’s company. But
before you head off on your next getaway, there’s something else you should
consider doing that might not sound quite as fun—creating an estate plan. Here’s
why:
●
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.
●
Without an estate plan in place,
your family or friends could have a heavy burden to get you back home, locate
your assets, keep your bills paid, and even ensure your children are taken care
of by the right people in the way you wish.
●
Lastly, an estate plan ensures
that any debts or liabilities are properly handled 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.
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 Last Will &
Testament (or Will) is enough and would just handle everything. But that’s
generally not the case.
You need medical powers of attorney, making it
clear that you want your spouse making medical decisions for you, as well as
having additional decision-makers as back-ups. A Living
Will, in particular, will give clarity on how you want medical decisions made
for you.
Finally, if you have dependent children, you
want to ensure you’ve made it as easy as possible for their care 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.
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 the initial plan is set up, or not
completed properly. The only real guarantee for the people you love to have as
much ease as possible, is to you work with an experienced attorney specializing
in estate planning.
We understand what a thorough and complete
estate plan requires — as well as the potential pitfalls or issues that could
arise due to your unique personal and family dynamics. We can advise you on
other important documents such as Wills, Trusts, powers of attorney (POA),
health care directives (HCD), and guardianship paperwork (for minor children)
so you can make informed decisions based on what you want to have happen if you
become incapacitated or die . All these items should be considered when
creating an effective estate plan — especially when one or both parties will be
traveling outside their home country at any point.
Don't Let a Lack of Planning Dampen
Your Vacation Spirits!
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! You
can rest assured knowing everything is being taken care of properly before you
embark on your next trip.
Contact us today to get started.
This article is a service of Ganvir Law, Personal Family
Lawyer®. We do not just draft documents; we ensure you make informed and
empowered decisions about life and death, for yourself and the people you love.
That's why we offer a Family Wealth Planning Session™, during which you will get
more financially organized than you’ve ever been before and make all the best
choices for the people you love. You can begin by calling our office today to
schedule a Family Wealth Planning Session and mention this article.
The
content is sourced from Personal Family Lawyer® for use by Personal Family
Lawyer® firms, a source believed to be providing accurate information. This
material was created for educational and informational purposes only and is not
intended as ERISA, tax, legal, or investment advice. If you are seeking legal
advice specific to your needs, such advice services must be obtained on your
own separate from this educational material.