Estate Planning Before Travelling

As an experienced estate planning lawyer in Folsom, I am often asked by my clients whether or not they should complete their estate planning prior to going on a trip. Estate planning is an important aspect to consider before traveling, especially if your trip involves some level of risk or if you’ll be away for an extended period. Here are some key steps to consider:

1. Create or Update Your Will or Living Trust:
   • Ensure that you have a valid will or living trust in place that reflects your current wishes.
   • Clearly designate beneficiaries for your assets.
   • If you already have a will or living trust, review and update it if necessary.
2. Power of Attorney:
   • Designate someone you trust to act as your power of attorney in case you become incapacitated.
   • Specify the extent of their authority, such as managing finances or making medical decisions on your behalf. In California, the power of attorney generally handles financial affairs whereas an advance directive handles medical affairs. 
3. Healthcare Proxy and Living Will:
   • Designate someone to make medical decisions for you if you are unable to do so (healthcare proxy).
   • Consider creating a living will to outline your preferences for medical treatment in specific situations.
   • In California, these matters are generally handled through an advance directive for health care. 
4. Organize Important Documents:
   • Make copies of important documents, such as your will, insurance policies, medical directives, and financial account information.
   • Store these copies in a secure location, and provide a trusted person with access.
5. Emergency Contact Information:
   • Provide a trusted friend, family member, or advisor with a list of important contacts, including your attorney, financial advisor, and healthcare providers.
6. Secure Digital Assets:
   • If you have digital assets, such as online accounts or cryptocurrencies, make sure someone you trust knows how to access them if needed.
7. Insurance Review:
   • Review your life insurance, health insurance, and any other relevant policies to ensure they are up-to-date and provide adequate coverage.
8. Consider Guardianship for Dependents:
   • If you have dependents, consider designating a guardian who would take care of them in case something happens to you.
9. Financial Matters:
   • Make sure someone knows how to access your bank accounts and pay bills in your absence.
10. Notify Trusted Individuals:
    • Inform key individuals about your travel plans and the location of your important documents.
11. Secure Your Home:
    • Take steps to secure your home before leaving, such as locking doors and windows, and possibly notifying local authorities if you’ll be away for an extended period.
12. Review and Update Regularly:
    • Periodically review and update your estate plan, especially if there are significant life changes or if you acquire new assets.

Conclusion

It’s crucial to consult with an experienced estate planning lawyer in Folsom when creating or updating your estate plan to ensure that it complies with local laws and meets your specific needs. If you have any other questions about estate planning before travelling, contact Thapar Law at 916-579-0605 or send us a message.