Three Estate Planning Tips to Consider Before Traveling

Heading on a vacation of any length often requires significant planning. Frequently, individuals arrange things like who will water the plants, who will retrieve the mail, and who will feed the pets. While many people might not think about it, it is a wise idea for individuals who embark on a trip to also conduct estate planning before leaving home. In the case that an unexpected tragedy happens, these plans help to make sure that a person’s affairs are in order. This article will review some of the important estate planning tips that individuals must remember to follow before taking a vacation. Review Existing Plans If you have an existing estate plan, you should make sure to revise it before taking a vacation. Some of the events that require an estate plan to be updated include death, divorce, and marriage. These events can result in a person’s estate plan nominating an individual who will no longer be able to take on the responsibility, which is why it is a wise idea to make sure that an estate plan applies effectively to a person’s current situation. While many of these updates include removing beneficiaries who have died or become incapacitated, there [...]