The summer months are fast approaching, and many of us are making plans for vacation. When making plans for vacation, we sometimes think, “What if something happens while we are on the plane?” or “Did I leave my life insurance paperwork in a place where someone can find it if something happens while I am gone?”
Parents often want to make sure that their affairs are in order before vacation, especially if their children are not traveling with them. Estate planning is a subject that should be considered in all parts of life. Travelling is just another aspect of life where estate planning should be top of mind.
When going out of town, one of the first things we may ask someone to do is pick up your mail. Have you ever considered that a person may need authority to collect your mail while you are out of town?
Having an updated Power of Attorney is the proper document that you should have in place to give another individual the authority to collect your mail while you are out of town.
In your Power of Attorney, you name the individual(s) who can manage your affairs when you are unable to do so for yourself. Having your Power of Attorney in effect before you travel out of town will provide you peace of mind while you are away.
You may also need a Power of Attorney if something comes up unexpectedly while you are out of town. What if a contract needs to be signed or you need someone to handle an issue at your financial institution? Having your Power of Attorney in place before your trip takes care of these issues and gives you one less thing to worry about while you are out of town.
If your minor children are not traveling with you, you want to be sure that you have an updated Last Will & Testament in place. This document names the individuals who will take care of your children if something happens to you during your vacation.
You want to name the individuals who will serve as guardians of your children instead of having the court appoint guardians. You also do not want your family members fighting over who should be named as guardians of your minor children. Having your Last Will & Testament in place before your trip will provide the peace of mind you hope to attain while on vacation.
For those with “fur babies”, it is important for you to indicate who will take care of your pets if something happens to you while vacationing. Having instructions on who should care for your pets is also an important part of your estate planning process.
You also want to make sure that your children are financially taken care of if something were to happen to you while traveling. Having a will or trust in place will outline how your assets should be distributed when necessary to care for your minor children. Having your will and trust in place before your trip is essential to life and vacation planning.
If you suffer a health crisis while out of town, you want to be sure that you have all of your health care documents in place so that your Agents will know how to proceed with your care in an unexpected situation.
Your Healthcare Power of Attorney names the people who will make healthcare decisions when you are unable to communicate and make these decisions for yourself.
Your HIPAA waiver names the individuals who may review your medical records if necessary to make health care decisions on your behalf.
Your Living Will is the document that indicates whether you want to be on life support if you are in a permanent vegetative state.
Having your healthcare power of attorney, a HIPAA waiver, and a living will in place before your trip will provide the necessary instructions to your agents regarding your wishes in a healthcare emergency while you are on holiday.
If you do not have an estate plan in place, contact a licensed attorney in your state to assist with drafting a solid estate plan.
You want to be sure that your estate plan is a well-thought-out set of documents that outlines your wishes for someone who will take care of your affairs while you are alive and after you pass away.
If you live in the District of Columbia, Maryland, or Virginia, please contact the Hill Law Group at (301) 244-9040 to assist with your estate planning needs. We would be happy to help with your needs for an estate plan.
