As I am writing this article we just had a major snowstorm in Southern Minnesota. While the storm missed the metro area, a cold front followed the storm and dropped the temperature down to the normal seasonal level. While this area is our home, the winter does seem to linger. So this is the time of year when many of us take a brief respite to a warmer climate. When you are planning your vacation, make sure you check your estate planning as follows:
Will or Trust
Is your will or trust up to date? Will your estate be distributed as you wish? Do you still want the same people to serve as your executor (personal representative), trustee, guardian, etc. If you do not have an estate plan, this is an excellent time to do one.
Health Care Directive
This type of document names people to make a medical decision for you if you cannot make these decisions on your own. Many of my clients have carried a copy of their Minnesota Health Care Directive in their carry-on bag or in the glove box of their car because another state usually honors an out of state Health Care Directive.
Power of Attorney
This type of document designates another person to make financial decisions for you if you are unable to do so. Powers of Attorney are effective after your incapacity (called a Durable Power of Attorney) and can allow someone else to act for you financially if you become disabled or need someone to act for you when you are out-of-state.
Offer
Estate Planning Solutions will meet with you for an initial 30 minute consultation without cost or obligation. We will then recommend changes that you should make. If you then retain us to perform the legal work, we will make your case a top priority so your estate planning documents are in place when you leave on vacation.