Posted on: 13 July 2016
Summer is here. Time to head out and enjoy that much-deserved vacation. Before you take off, there's one more item of business that you should take care of – your will. When was the last time you took a look at your will? If you can't remember, now is the time to do that. The last thing you want is for something to happen on your vacation that leaves you with an outdated will and an unprotected family. Here are three steps you can take that will get your will ready for your summer vacation.
Update the Information
Take a look at your will. When you pass away, it's your will that will be used to divide your assets and make sure that your wishes are carried out. If the information is incorrect, the execution of your will could be delayed. Don't take chances. Before you leave on vacation, make sure that all the information is correct and current. Look at the names to make sure you've included everyone – including new children or grandchildren you might have. If you've recently divorced, make sure that's noted in your will.
Finalize Your Trust
If you've created a living trust to protect your assets, you need to make sure that the final step has been carried out. Once you've signed the documents, all of your assets must be transferred over to the living trust. If this step is missed, the trust is not effective. If you've been working with an estate attorney to get your affairs in order, have them assist you in transferring your assets to your living trust before you leave for your summer vacation.
Document Your Advance Directives
You never know when something is going to happen to you. If you have completed an advance directive, you need to make sure that the information is up-to-date before you leave. Your advance directive will let others know what your wishes are regarding medical treatment, including what heroic measures you want used – or don't want used – to prolong your life. It's also important that you've designated someone to be your medical power of attorney should something happen to you. Your power of attorney will be able to authorize treatment when you're unable to.
If you're getting ready to take off on your summer vacation, now's the time to make sure your affairs are in order. If you have questions or concerns regarding your estate, be sure to speak to an attorney.
For a probate attorney, contact a law firm such as Davis & Mathis.Share