Before You Travel This Summer….

Financial documentYou are looking forward to your summer vacation. But don’t let that excitement get in the way of doing what needs to be done in case catastrophe happens.

That means taking care of five estate planning “musts” before you go.

According to a story on the Huffington Post, they include:

  • Making a will. You don’t want to leave it up to the state to decide who gets what.
  • Checking beneficiary designations. A will does not have say over who gets assets contained in IRAs, 401 (k) plans or life insurance. Each one needs a beneficiary designation. You don’t want the money going to your ex-spouse or even to an 18-year-old child, do you?
  • Naming a guardian. You should always name one to take care of your children if something happens to you.
  • Making an advance directive. This allows medical decisions to be made on your behalf in case you become incapacitated.
  • Naming a durable power of attorney. This allows another person to make decisions on your behalf that don’t have to do with health care issues.

If you have questions about estate planning, feel free to contact us for a consultation at (626) 696-3145.

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