As COVID restrictions ease, more people than ever are planning to go on vacation this summer season. With some hotels reporting an 80% increase in bookings, going on vacation this year may require much more planning than it would have in the pre-pandemic times.

But one thing many people forget to do is plan for the worst. Traveling means you’ll likely be at greater risk than usual for illness, injury, and even death. In fact, The National Highway Traffic Safety Administration recently reported that traffic fatalities are higher than they’ve ever been in 16 years.

In light of this reality, you need a plan in place before taking your next trip. If not, your loved ones can face a legal nightmare if something should happen to you while you’re away.

Here are five critical estate planning tasks to take care of before going on vacation:

01 | MAKE SURE YOUR BENEFICIARY DESIGNATIONS ARE UP-TO-DATE

Some of your most valuable assets, like life insurance policies and retirement accounts, do not transfer via a will or trust. Instead, they have beneficiary designations that allow you to name the person (or persons) you’d like to inherit the asset upon your death. It’s vital you name a primary beneficiary and at least one alternate beneficiary in case the primary dies before you. Moreover, these designations must be regularly reviewed and updated, especially following major life events like marriage, divorce, and having children.

02 | CREATE POWER OF ATTORNEY DOCUMENTS

Outside of death, unforeseen illness and injury can leave you incapacitated and unable to make critical decisions about your own well-being. Given this, you must grant someone the legal authority to make those decisions on your behalf through power of attorney. You need two such documents: medical power of attorney and financial durable power of attorney. A medical power of attorney gives the person of your choice the authority to make your healthcare decisions for you, while durable financial power of attorney gives someone the authority to manage your finances. As with beneficiary designations, these decision makers can change over time, so before you leave for vacation, be sure both documents are up to date.

03 | NAME GUARDIANS FOR YOUR MINOR CHILDREN

If you’re the parent of minor children, your most important planning task is to legally document guardians to care for your kids in the event of your death or incapacity. These are the people whom you trust to care for your children—and potentially raise them to adulthood—if something should happen to you. As your Personal Family Lawyer® firm, we are specially trained to provide a comprehensive system called the Kids Protection Plan® developed by a nationally recognized attorney (who is a mom herself) and the author of the best-selling book on legal planning for the unique needs of families with minor children.

And because we believe it’s SO important for every family with minor children to at least get started by naming guardians, we make it free and easy to do! Use our FREE resource to name guardians in just 10 minutes.

04 | ORGANIZE YOUR DIGITAL ASSETS

If you’re like most people, you probably have dozens of digital accounts like email, social media, cloud storage, and cryptocurrency. If these assets aren’t properly inventoried and accounted for, they’ll likely be lost forever if something happens to you. At a minimum, you should set up a Legacy Contact if you have an Apple account or set up Google’s Inactive Account Manager if you have a Google Account. Consider also signing up for a password manager service that allows you to designate an emergency contact.

WE’RE HERE TO HELP

If you have a vacation planned, be sure to add these items to your to-do list before leaving. And if you need help completing any of these tasks—or would simply like us to double check the plan you have in place—consult with us as your Personal Family Lawyer firm®.

Have questions? We’re happy to help! Schedule a 15-min phone call with us to get your questions answered.

This article is a service of AMO LAW, Personal Family Lawyer® firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Legacy Planning Session and mention this article to find out how to get this $750 session for just $497. 

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.