![]() There are lots of advantages of having your plan reviewed on a regular basis. You also may have just put a Will in place and perhaps a Living Trust now makes more sense. Relationships change over the years and what may have made sense when you originally got your estate plan in place may no longer make sense. Also, he or she can review whom you’ve chosen to be in charge of your financial affairs and medical decisions and who will get what and when. During a review process, the attorney can determine if there’s been any changes in laws or planning strategies that make sense for you. An out-of-date estate plan is just as bad (sometimes worse!) than none at all. If you already have an estate plan, before going on vacation, it would be good to get your plan reviewed by an attorney and make sure that it is up-to-date. ![]() It will also determine how your estate will be distributed in the event of your passing. Through this process, you determine who will be in charge if something happens to you (either illness, disability or death). This could be a Living Trust-which is the most appropriate estate planning vehicle for most people, but it may also be a Will (along with a Power of Attorney). Here is a list of Estate Planning “Must-Do’s” before going on vacation: Get an Estate Plan in Placeįirst and foremost, if you have not done any estate planning at all, it is important for you to get something in place. Just like travel insurance, estate planning is also the “insurance” for the unpredictable “what ifs” in life. However, many travelers purchase travel insurance to protect their vacation investment in case of bad weather, medical emergencies, travel delays, or other unpredictable circumstances. The thought about estate planning probably has no consideration on this vacation To Do list. Do this for one person, but then multiply it by the number of people in your family it can be stressful and exhausting trying to manage all of this. Whether you’re going out of town, out of state, or out of the country, there are always a lot of things to do before you leave.įrom figuring out where you’re going to stay, what activities you guys are going to do, what to pack and if there’s anything else that you might need before then. As we head into summer in a few months and the kids (or grandkids) are now out of school for summer break, you may have already been thinking about or even booked a vacation.
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