Before You Leave Town, Make Sure Your Family Is Protected
Summer vacations are meant for relaxation and making memories. Before heading to the airport, your favorite beach destination, a cruise, or an overseas adventure, take a few moments to ensure your legal and financial affairs are organized in case of an unexpected emergency.
Review Your Estate Planning Documents
Make sure the following documents are up to date and accurately reflect your current wishes:
• Revocable Living Trust
• Last Will and Testament
• Financial Power of Attorney
• Medical Power of Attorney or Health Care Directive
• HIPAA Authorization
• Guardian Nominations for Minor Children
Ask yourself:
• Have there been any births, deaths, marriages, divorces, or relocations since these documents were created?
• Are the individuals you have named still the best choices for these roles?
• Have your assets, financial circumstances, or family situation changed significantly?
Let Someone Know Where Important Documents Are Located
In an emergency, your loved ones should know:
• Where your original estate planning documents are stored
• How to access those documents
• Who your attorney is
• Who your financial advisor is
• Who your CPA or accountant is
• How to quickly reach key decision makers
Consider providing:
• A printed emergency information sheet
• Secure digital copies of important documents
• Clearly labeled emergency contacts in your phone
Ensure Powers of Attorney Are Available Electronically
Emergencies can happen while you are away from home. If a trusted family member suddenly needs access to your legal documents, they should be able to obtain them quickly.
Before traveling:
• Store secure PDF copies in cloud storage
• Make sure trusted individuals know how to access them
• Consider using password manager emergency access features
• Keep electronic copies available through a secure app or on your phone
A document locked away in a home safe may not be helpful during an emergency in another state or country.
Review Temporary Guardianship Plans for Minor Children
If you are traveling without your children:
• Confirm who would care for them in an emergency
• Leave caregivers with insurance cards, medical information, emergency contacts, medication details, and your travel itinerary
If your children are traveling without you:
• Consider temporary medical authorization documents for grandparents, relatives, or other caregivers
Review Beneficiary Designations
Take time to review the beneficiary designations on:
• Retirement accounts
• Life insurance policies
• Transfer on Death (TOD) accounts
• Payable on Death (POD) accounts
Remember, beneficiary designations often override instructions contained in your will or trust.
Verify Asset Ownership and Titling
Confirm that:
• Assets intended for your trust are properly titled in the trust’s name
• Real estate ownership is accurate
• Business interests and LLC memberships are properly assigned
• Vacation homes and out-of-state properties are coordinated with your overall estate plan
Prepare for Medical Emergencies While Traveling
This is especially important for international travel, cruises, adventure travel, and older travelers.
Carry or have access to:
• Health insurance information
• Travel insurance information
• Current medication lists
• Physician contact information
• Emergency contact information
• Copies of identification and passports
• Advance directives and medical documents
Create a Digital Emergency Access Plan
Many important assets and records now exist online.
Organize information regarding:
• Password access instructions
• Two factor authentication backup methods
• Access to phones, tablets, and computers
• Online banking and financial accounts
• Cryptocurrency and digital assets
• Cloud storage accounts containing photos and documents
Have a Conversation With Your Family
One of the biggest challenges families face during an emergency is confusion.
Make sure your trusted loved ones know:
• Who is responsible for making decisions
• Where important documents are located
• Your general wishes and preferences
• Who should be contacted first in an emergency
Even a brief conversation can prevent unnecessary stress, confusion, and conflict.
Schedule an Estate Plan Review
Many people update their passports, travel plans, and summer wardrobes more frequently than they update their estate plans.
If your estate planning documents are more than three to five years old, or if your life circumstances have changed, summer is an excellent time to schedule a review.
A Little Planning Creates Tremendous Peace of Mind
The purpose of estate planning is not to focus on the worst-case scenario. It is to make difficult situations easier for the people you care about most.
Before you leave town this summer, take a few moments to ensure your loved ones can access the right documents, information, and decision makers if the unexpected occurs.
Safe travels, and enjoy your summer with greater peace of mind.