44News This Morning is going Inside the Community for 44Morning Brief our weekly legal segment.
Just in time for the summer travel season, Attorney Bruse Loyd shares some legal lips before you head out on a family vacation.
He says keep the following in mind:
1. Check Beneficiary Designations – Make sure that your life insurance, IRA, company retirement benefits, bank accounts, and related items have accurate beneficiary designations. Since these items normally pass outside probate, don’t rely on your will to direct these monies to the intended recipient.
2. Create a Will – It’s relatively easy to put together a will, and if you don’t have one, now is a good time to get it.
3. Name Guardians for Your Children – If you have minor children, it is imperative that you name a guardian for your children in your will or a written declaration of some sort should you die or become incapacitated on your trip. Otherwise you may have no say over what happens to your minor children if something were to happen to you and your spouse.
4. Get Health Care Documents in Place – If something were to happen to you where you become incapacitated, you want health care documents in place to articulate your wishes regarding your treatment and who has say over that. That would generally be a health care power of attorney.
5. Power of Attorney – A durable general power of attorney is an important document to have established well before you travel. This allows another individual to make financial and other decisions on your behalf if you become unable to.