Those planning summer vacation should add ‘Create estate plan’ to the to-do list
Local attorney discusses the importance of having an estate plan in place before vacationing; over 300 million summer trips will be taken this year
LAS VEGAS – The U.S. Travel Association expects more than 300 million summer trips to be taken this year. Families often spend a lot of time planning for these long-awaited vacations, yet only a handful of those travelers take time to get their legal affairs in order before leaving.
“You wouldn’t dare leave on your trip without your toothbrush, but if you ask who of those 300 million have updated or even written a will before they left, you would unequivocally get a less than desirable number,” said Brooke Borg, founder and attorney for Borg Law Group, which specializes in estate planning. “Why? Because most of us don’t like to think of a worst case scenario.”
Nine out of 10 summer trips are taken in an automobile and according to Live Science, one in every three traffic fatalities occurs between June and August, with the Fourth of July being the most deadly day of the year.
“Just as you would take your vehicle to the repair shop or dealership for a pre-vacation checkup, you should visit your attorney and take a look at your estate plan,” Borg said. “What happens to your assets if you pass away? Who will raise your minor children if something happens to you and your spouse? Will your assets go through probate? Who will get your life insurance proceeds if you pass away and how difficult will it be for them to get it? All these questions can be answered after an attorney reviews a current estate plan. Those who don’t have an estate plan need one.”
Borg also recommends that those who have children but aren’t traveling with them make arrangements with the family member or babysitter who is caring for them to have the legal authority to make medical decisions for their child if an emergency occurs. Parents should provide written permission for the person caring for their children to make medical decisions on their behalf while they’re gone. The same should be done when children go away to summer camp.
“Without a temporary guardianship or consent completed, life saving medical treatment could be prolonged or even overlooked because the caretaker has no authority to make medical decisions,” Borg said.
While these “what ifs” aren’t what people want to think about, especially when they’re getting ready for a fun trip, it’s critical to plan for them.
Borg Law Group provides legal services to individuals and businesses in the areas of real estate, corporate law, estate planning and probate. The firm’s founder, Brooke Borg, is admitted to the State Bar of Nevada and the State Bar of Michigan.
For more information regarding Borg Law Group call 702-318-8808 or visit www.BorgLawGroup.com.