Summer is almost here, and many families are finalizing travel plans for a much-needed getaway, whether it’s a beach escape, a cross-country road trip, or a relaxing staycation. But before you pack your bags, there’s one important item you should check off your list: making sure your estate plan is up to date.
Taking care of your estate planning now can give you peace of mind so you can truly enjoy your time away. Here’s why updating your documents before vacation is a smart and responsible move:
Be Prepared for Medical Emergencies
No one wants to imagine getting hurt or hospitalized on vacation, but emergencies happen. If you become incapacitated and don’t have updated health care documents, your loved ones may not be able to speak for you or access vital information.
That’s why it’s essential to have:
- An Advance Health Care Directive – to name someone you trust to make medical decisions for you if you can’t.
- HIPAA Authorization – to allow your chosen person to speak with your doctors and receive updates about your condition.
Keep copies of these documents with you while traveling and provide them to your travel companions as well.
Ensure Someone Can Handle Financial Matters
A Financial Power of Attorney authorizes a trusted person to manage your financial affairs if you're unable to do so yourself. This could be invaluable if something unexpected happens while you're away, such as a banking issue, paying bills such as a mortgage payment, or legal matter.
Secure Guardianship for Your Children
If you have minor children, your estate plan should include nominations for guardianship. This important document spells out who should care for your kids if something happens to you. Without it, the court could be left to decide who steps in. Having this in place provides clarity and reassurance for your family during difficult times.
Review and Fund Your Revocable Trust
A well-drafted revocable trust helps ensure your assets go to the right people in the right way, and it can help your family avoid the delays and costs of probate. But your trust also needs to be properly funded, meaning assets like your home, bank accounts, investment accounts and business interests should be titled in the name of the trust or listed as a beneficiary.
If you already have a trust, consider reviewing it if it’s been more than three to five years or if your family or financial situation has changed.
Don’t Wait Until the Last Minute
It’s important to plan ahead. Updating or creating estate documents takes some time, especially since they must be reviewed, signed, and notarized. If you call just a week or two before you’re scheduled to leave, there may not be enough time to get everything done properly.
Give yourself (and your attorney) ample time so you can leave town feeling confident and protected.
If you or someone you care about needs to create or update their estate plan before traveling, reach out to our Intake Department at 760-448-2220 or visit us online at geigerlawoffice.com/contact.cfm. We have offices in Carlsbad (San Diego County) and Laguna Niguel (Orange County), and we proudly serve families throughout California.
Safe travels and happy summer!
