It is always important to have your estate plan in order, however, if you will be traveling, it’s a must. Should anything happen to you during your trip, having your affairs in order will minimize stress for your loved ones. Here are 5 items to make sure you have and check off before traveling.
- Last Will and Testament – This is the most common document people think about when it comes to estate planning. In the Will you name an executor to administer your estate, you name beneficiaries to receive you estate, and you can name a guardian to care for your minor children.
- Advanced Directives: Living Will and Health Care Surrogate – These documents express your health care preferences and name someone to make health care decisions for you, if you are unable to. Remember, estate planning isn’t just about death, it’s also making sure your affairs are in order for incapacity as well.
- Durable Power of Attorney – This is a financial power of attorney to name an agent to make decisions for you if you are unable to do so yourself.
- Life Insurance – Make sure it is up to date before traveling, especially the beneficiaries listed.
- Review Titles / Deeds and Beneficiaries – In addition to checking life insurance beneficiaries, check those on other account as well such as IRAs, checking accounts, savings accounts, anything with a POD or TOD.
~Cristin Silliman, Esquire
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