Going on Vacation? Have these 3 Key Documents in Place First
You've certainly heard that the most common causes for people to make or revise their wills or appoint powers of attorney are significant life events like purchasing a home, getting married, having a kid, getting divorced, or sending a child to college.
While these are all great reasons, there is another reason to get these important legal documents in order—going on vacation.
If you are planning on taking a road trip or are traveling internationally this summer, add these three important legal documents to your to-do list.
Important Documents to Draft Before Going on Vacation
Whether you are a parent with young children, traveling internationally for the first time, or taking a family road trip to the beach, wills and power of attorney documents are critical legal documents to complete before you leave.
Here are the top three documents to have in order before going on vacation.
#1. Wills
We've talked about the significance of having a will before; if it's been five years or more since you've written your will, or if a significant life event has occurred since then, it's important to revise it before you go on vacation.
Nobody is immune to mishaps or illness, and while most vacations go as planned without a hitch, let’s face it - anything can happen when you are on vacation. This is why it is recommended that you be prepared in case of the unimaginable.
A will is a legal document that outlines your wishes and desires regarding the legal care of minor children and the distribution of property and assets upon your death.
Wills aren’t just for people with children or those who have substantial wealth or assets.
Everyone needs a will, and everyone should have one in place before traveling.
Learn More About Wills > What Should Be Included in Your Will
#2. Young Adult Power of Attorney
A young adult power of attorney (POA) form is useful to set up before you depart, whether you are a young adult yourself or the parent of a college student and are getting ready to travel.
Many parents wonder why they might need a young adult POA. This legal document is crucial to have since, after a child reaches the age of 18, you as a parent lose the authority to make choices regarding their health or finances, even in an emergency.
Regrettably, accidents can occur at any moment, even while you're on vacation, and they could render a young adult child incapable of managing decisions. You can make significant decisions for your adult kid with the help of a young adult power of attorney.
Every adult should have a durable POA for health care and financial decisions.
Without a POA, a state might appoint a guardian or conservator for you or your adult child. This process can be complex and expensive.
Drafting a POA for a young adult does not equate to being an overly involved parent. It merely enables you to encourage your child to start considering estate planning and taking preventative action to get ready for emergencies before they happen.
Keep Reading > What Is a Young Adult Power of Attorney, and Does My College Student Need One?
#3. A Vacation Power of Attorney
Similar to the young adult POA, a vacation power of attorney form is a short but helpful document that can provide caregivers authority over your minor children while you are traveling.
Parents often leave their children with their grandparents when they leave for vacation or a trip. It is assumed that if one of the kids needs to go to the doctor, that grandma or grandpa will be able to consent to their treatment.
Without a POA in place giving them the authority to do so, that ability is not guaranteed. Setting up a vacation POA to give consent to the people who will be watching your children, whether that is a grandparent or trusted friend, is the best way to have peace of mind should something happen while you are away.
Be Prepared for Vacation
School is out, the sun is shining, and you are eagerly anticipating your summer vacation. Have greater peace of mind this summer and call Elaine McGinnis P.A. to update or draft your will and ensure a POA will keep your young adults and minor children protected.
Leave your stress behind this summer. Call Elaine McGinnis P.A. today; 813-851-3380.