Estate Planning

Planning a Long Vacation or Sabbatical? How to Get Your Estate Planning Done Before You Leave!

By Myrna Arroyo

Going abroad for an extended trip?  Make sure your estate planning documents are completed, and that your family members know where to find the originals.

What You Must Have

1. Will.  You will need a will that directs who you would like to inherit your property when you die, and names guardians for your minor children.  Even if you have few assets, a will can really make things easier for your survivors when you pass away.  It is easy to set one up, and it can really make life easier for your survivors.
2. Powers of Attorney for Financial Matters.  This is critical if you are going overseas for a long time, as financial matters will probably come up while you are away that need to be handled by someone back home.  By having a power of attorney in place, you avoid spending your travel time looking for internet cafes and paying exhorbitant international overnight mail or faxing fees.  Appoint someone you trust to handle things for you, and make sure they know where the original power of attorney is located, or if you must, leave it with them.   The travel power of attorney can be temporary, just for the length of your trip.  You will also need to set up a durable power of attorney of open-ended duration in case you are incapacitated and need someone to act on your behalf. 
3. Power of Attorney for Health Care Decisions.  Again, if you are incapacitated due to an accident or illness, you will want your medical decisions to be made by someone you trust.  By having a power of attorney in place, you make it easier for your loved ones to intervene in the event you become incapacitated.
4. Easy Access to Your Documents.  It is important that these documents are accessible when you or your family need them.  I recommend scanning signed copies of these important documents, which you can store on a disk or USB drive that you can easily take with you and access from any computer.  While you are scanning, you should also scan copies of your passport, health insurance cards, birth certificates and other documents you may need that would be difficult to transport on short notice.  There are also online databases that do the same thing, and allow you to access your files via any internet connection.  You can also leave a hard copy somewhere where a trusted family member or friend can find it. The important thing is that you communicate with your family to make sure they know what to do if the unthinkable happens.

How To Get This Done Quickly and Painlessly

 It is always a little bit painful to contemplate our own mortality, but I can make the process of getting this done fairly easy.  Just visit www.LouisianaWillForms.com and use our online tools to easily create your set of basic estate planning documents.  You simply fill out a questionnaire, submit your answers, a Louisiana licensed attorney reviews everything, and uploads the completed documents to you.  You then take the completed package to a any notary for execution and your plan is done. 

It is affordable, easy, and unlike most estate planning tools available on the internet, this one actually comes with legal advice and support to make sure your plan is valid under Louisiana law.  You can try it at www.LouisianaWillForms.com. 

Full post as published by Louisiana Estate Planning on October 31, 2008 (boomark / email).