Estate Planning Before a Major Trip
Are you currently making plans for a major vacation, or time away either domestically or internationally? If so, it is also an important time to be sure that you have an estate plan in place and that it is up to date. Nobody likes to think of the possibility of something going wrong on a vacation, such as a devastating accident, but such events can occur. In the event that something unexpected happens, it is important to be prepared. This is especially true if you have minor children, and if you will be traveling without them during your time away.
What do you need to know about estate planning before a major trip? Consider the following from our Canton estate planning law team.
Do You Have an Estate Plan and is it Up to Date?
First, before you travel, do you have an estate plan? If you do, is it up to date? If you do not currently have an estate plan, it is time to make one. Not only can an estate plan allow you to make important decisions about who will inherit your property, but you can also identify a guardian for your minor children, name a person to serve as your agent to make important decisions on your behalf concerning finances and health care, and more. If you do have an estate plan but have not reviewed it in the last several years, or if you have not reviewed it since a major life event (such as a death, divorce, birth,), it is also time to review the estate plan and to make any necessary revisions.
Naming a Guardian for Your Minor Children
Nobody wants to think about a devastating accident before a trip that will leave their minor children without a parent. Yet it is crucial to plan ahead. Part of your estate plan before any travel, if you have minor children, should include naming a guardian to care for your kids in the event that you become unable to provide that care yourself. You can name a guardian for your minor children in your will.
Creating Advance Directives and Powers of Attorney
Advance directives can allow you to document your wishes for certain types of health care (or your decision to decline certain types of health care). You can also name an agent who can make health care decisions for you if you become unable to make those decisions for yourself. This is known commonly as naming an agent in a health care power of attorney. You should also have a financial power of attorney in which you name an agent who can make financial decisions on your behalf in case something unexpected happens.
Contact a Canton Estate Planning Lawyer for Assistance
In addition to having the above types of estate planning documents in place before you travel, it is also important to ensure you have a valid will and that any trusts you want to make have been created. For any questions or to get assistance with your estate planning needs, you should reach out to an experienced Canton estate planning attorney at the Law Office of Brian S. Karpe. We are here to provide assistance with your estate planning needs in Connecticut.
Source:
cga.ct.gov/2023/pub/title_45a.htm
