Many things often need to be taken care of before a big trip, but there’s one thing that you might want to add to the list. You should consider updating your estate plan before traveling, or at least reviewing some key parts of it. A Woodland Hills, California estate planning attorney from our firm can help you.
What Parts of My Estate Plan Should Be Checked Before Traveling?
Before traveling, you should check over some of the most important parts of your estate plan. The first thing to check would be your executor, who is responsible for carrying out your wishes, and your trustees, if you have set up any trusts. If you no longer think that the person you selected is a good fit for the job, then it might be time to make a change.
Next, you should take a look at the beneficiaries listed for trusts, life insurance policies, and any bank accounts. Some accounts can easily transfer when you pass away as long as you have them set up correctly. You should also review any documents that cover what happens to you if you are incapacitated. This can include:
- Healthcare power of attorney
- A living will
- HIPAA authorization
All of these documents can make it easier for a loved one to make important decisions for you when you are unable to.
Is There Anything Else I Should Do Before Traveling?
Now is also a good time to go through any other documents that might be related to your estate plan. Once you have updated that, you can take some time before traveling to get everything that an executor or trustee would need organized.
This means making sure that all of your accounts are listed somewhere. If there are online usernames and passwords to remember, you have those listed as well. You should also organize the files on your computer that relate to your finances and estate. This can make things much easier for whoever you have put in charge of your affairs.
Do I Need an Estate Planning Lawyer?
Having an estate planning lawyer is a good idea, even if you do not think of your estate as being all that large. An attorney can help you figure out the best way to protect your assets and leave the maximum amount behind for your family. You want to be able to take care of your loved ones when you are gone, you don’t want to end up paying excessive taxes just because you were unsure of how to make an estate plan.
Contact Our Firm Today
So if you are ready to review and update your estate plan, contact the Law Offices of Yacoba Ann Feldman. Our experienced attorneys are ready to answer all of your questions.
